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2. A firm has just ended its calendar year making a sale in the amount of $150,000 of merchandise purchased during the year at a

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2. A firm has just ended its calendar year making a sale in the amount of $150,000 of merchandise purchased during the year at a total cost of $112,500. Although the firm paid in full for the merchandise during the year, it has yet to collect 20% at year end from the customer. The net profit and cash flow from this sale for the year are the (3 Points) 37,500 and $105,000, respectively, 37,500 and $30,000, respectively. 37,500 and $120,000, respectively. $150,000 and $112,500, respectively

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