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Sales $4,000 Cost of goods sold 1,700 Interest expense 350 Depreciation expense 800 Net income $1,150 Adjustments: a. Interest payable DECREASED by $60. b. Accounts

Sales $4,000 Cost of goods sold 1,700 Interest expense 350 Depreciation expense 800 Net income $1,150 Adjustments: a. Interest payable DECREASED by $60. b. Accounts receiveable DECREASED by $290. c. Inventory INCREASED by $500. d. Accounts payable DECREASED by $130. Note all accounts payable related to inventory purchases. Using the information, compute CASH COLLECTED FROM CUSTOMERS. $4,130 $4,290 $4,160 $3,710 $3,870

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