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888.) Mace Company has provided the following information for the year just ended: Cash sales totaled $130,000, Credit sales totaled $219,000, Cash collections from customers
888.)
Mace Company has provided the following information for the year just ended: Cash sales totaled $130,000, Credit sales totaled $219,000, Cash collections from customers for services that have not been provided yet totaled $12,000. There was a $3,000 gain from the sale of property and equipment. Interest expense totaled $9,500. How much did net income increase due to these items?
A.) $339,500
B.) $353,300
C.) $350,800
D.) $342,500
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