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On July 1, 2016, the Olympic Company had an accounts receivable balance of $40,000. During the month, the company made additional sales of $30,000 on

On July 1, 2016, the Olympic Company had an accounts receivable balance of $40,000. During the month, the company made

additional sales of $30,000 on account and collected $48,000.

On July 31, the accounts receivable balance is:

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