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The financial statements of New World, Incorporated, provide the following information for the current year: December 31 January 1 Accounts receivable $ 279,000 $ 301,500
The financial statements of New World, Incorporated, provide the following information for the current year: December 31 January 1 Accounts receivable $ 279,000 $ 301,500 Inventory $ 270,000 $ 258,000 Prepaid expenses $ 69,600 $ 66,000 Accounts payable (for merchandise) $ 246,300 $ 233,550 Accrued expenses payable $ 66,150 $ 75,450 Net sales $ 3,127,500 Cost of goods sold $ 1,645,500 Operating expenses (including depreciation of $55,000) $ 373,500 What is the amount of cash received from cust
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