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Question 2 The following selected account balances were taken from ABC Company's general ledgers for 2019: Inventory Notes payable Unearned revenue Accounts payable Retained earnings

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Question 2 The following selected account balances were taken from ABC Company's general ledgers for 2019: Inventory Notes payable Unearned revenue Accounts payable Retained earnings Land Common stock Accounts receivable January 1, 2019 61,000 95,000 18,000 49,000 23,000 80,000 38,000 53,000 December 31, 2019 36,000 81,000 25,000 53,000 42,000 92,000 77,000 ABC Company's 2019 income statement included sales revenue of $420,000, loss on sale of land of $14,000, and net income of $32,000. ABC Company's 2019 statement of cash flows included the following: Cash paid to purchase inventory ... $326,000 Cash paid to purchase land ............ $ 98,000 Cash received from the sale of land ... ...... $ 42,000 Calculate the amount of cash collected from customers during 2019

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