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Kwela Books, Inc., had sales of $760,000 during 20X1, 90% of them on credit and 10% for cash. During the year, accounts receivable increased from
Kwela Books, Inc., had sales of $760,000 during 20X1, 90% of them on credit and 10% for cash. During the year, accounts receivable increased from $50,000 to $95,000, an increase of $45,000. Requirement 1. What amount of cash was received from customers during 20X1? Select the formula needed to solve for this amount and then enter the amounts to solve for the cash received from customers. Sales Cash received from customers
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