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The ending balance of accounts receivable was $72,000. Sales, adjusted to a cash basis using the direct method on the statement of cash flows, were
The ending balance of accounts receivable was $72,000. Sales, adjusted to a cash basis using the direct method on the statement of cash flows, were $357,000. Sales reported on the income statement were $382,500. Based on this information, the beginning balance in accounts receivable was: Multiple Choice $97,500 $25,500 $98,500 $46,500
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