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If Credit Sales for the Year Are $120,000 and the Accounts

Question 3

Multiple Choice

If credit sales for the year are $120,000 and the accounts receivable balance has increased by $10,500 over the year, how much cash was received from accounts receivable during the year?


A) $130,500.
B) $109,500.
C) $120,000.
D) $10,500.

Correct Answer:

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