Sales for Metallic Paints in 2020 were 300,000, 70% of them on credit and 30% for cash.
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Sales for Metallic Paints in 2020 were £300,000, 70% of them on credit and 30% for cash. During the year, accounts receivable increased from £28,000 to £33,500, an increase of £5,500. What amount of cash did Metallic Paints receive from customers during 2020?
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Related Book For 
Introduction To Management Accounting
ISBN: 9781292412566
17th Edition, Global Edition
Authors: Charles Horngren, Gary L Sundem, Dave Burgstahler
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