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During its first year of operations, Nelson Company bills credit customers $53,400 for services rendered. During the year, Nelson receives $37,400 from all customers, $7,700

During its first year of operations, Nelson Company bills credit customers $53,400 for services rendered. During the year, Nelson receives $37,400 from all customers, $7,700 of which is received from cash customers. Required: What amount of revenue should be shown on the income statement for the year?

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