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Philip Corp reported credit sales of $240,000 and write-offs of bad debts of $57,000 for last year. Accounts receivable had a balance of $1,127,000 at the beginning of the year and $881,000 at the end of the year. How much cash was collected from customers during the year? Select one: O a $429,000 O b. $669,000 Oc. $486,000 Od $246,000 Which of the following statements is correct about financial information? Select one: O a. All users require the same kind of information O b. Trade offs are necessary in accounting, Oc. Historical cost information is useful for pricing the value of a company's shares. O d. Forward looking information is useful for evaluating management stewardship Which qualitative characteristic of financial information alleviates "moral hazard"? Select one: a. Comparability Ob. Predictive value. Oc. Neutrality Od Timeliness