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TB TF Qu. 12-136 (Static) Goodloe Corporation's credit sales... Goodloe Corporation's credit sales for Year 1 were $500,000, and the balance in its accounts receivable

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TB TF Qu. 12-136 (Static) Goodloe Corporation's credit sales... Goodloe Corporation's credit sales for Year 1 were $500,000, and the balance in its accounts receivable increased by $26,000 during the year. In Year 1, Goodloe collected $526,000 in cash from its customers. True or Folse

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