Cash Collected from Sales
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Beginning and ending accounts receivable are $76,000 and $42,000, respectively. Sales for the period total $384,000, of which $40,000 was directly for cash. How much cash was collected from making sales and collecting accounts receivable?
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The solution explains how to calculate the amount of cash collection from sales.
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The credit sales are 384,000-40,000=344,000
The cash collection ...
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