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THE Company reported the following income statement for 2021: Sales revenue Cost of goods sold Insurance expense Utilities expense Net income $289,000 137,000 43,000 56,000

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THE Company reported the following income statement for 2021: Sales revenue Cost of goods sold Insurance expense Utilities expense Net income $289,000 137,000 43,000 56,000 $ 53,000 The following selected account balances were taken from THE Company's accounting records during 2021: Utilities payable Inventory Accounts receivable Prepaid insurance Accounts payable January 1, 2021 14,000 29,000 32,000 48,000 41,000 December 31, 2021 54,000 18,000 87,000 31,800 53,000 The amount of cash collected from customers during 2021 was equal to: 0 $289.000 $344,000 O $277,000 O $222.000 O $243,000 O $287.000 none of the above choices are correct

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