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Newark Company has provided the following information: Cash sales, $510,000 Credit sales, $1,410,000 Selling and administrative expenses, $390,000 Sales returns and allowances, $96,000 Gross profit,
Newark Company has provided the following information: Cash sales, $510,000 Credit sales, $1,410,000 Selling and administrative expenses, $390,000 Sales returns and allowances, $96,000 Gross profit, $1,420,000 Increase in accounts receivable, $61,000 Bad debt expense, $39,000 Sales discounts, $49,000 Net income, $1,030,000 How much cash was collected from customers? Multiple Choice Cash flow decreased $1,976,000. Cash flow increased $1,497,000. Cash flow increased $1,859,000. Cash flow increased $1,380,000.
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