1. A company's sales revenue for the year was $580,000. Its Accounts Receivable balance was $60,000 at the beginning of the year and $40,000 at the end of the year. The company's total amount of cash received from customers during the year equals:

Select one:

a.$680,000.

b.$600,000.

c.$580,000.

d.$560,000.

e.$480,000.

2. A company's cost of goods sold for the year was $720,000. Its Inventory balance was $200,000 at the beginning of the year and $188,000 at the end of the year. Its Accounts Payable balance was $80,000 at the beginning of the year and $84,000 at the end of the year. The company's total amount of cash paid for inventory during the year equals:

Select one:

a.$704,000.

b.$712,000.

c.$720,000.

d.$728,000.

e.$736,000.