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The financial statements of New World, Incorporated, provide the following information for the current year. Accounts receivable Inventory Prepaid expenses Accounts payable (for merchandise)
The financial statements of New World, Incorporated, provide the following information for the current year. Accounts receivable Inventory Prepaid expenses Accounts payable (for merchandise) Accrued expenses payable Net sales. Cost of goods sold Operating expenses (including depreciation of $64,000) What is the amount of cash received from customers during the current year? December 31 $ 288,000 $281,250 $ 73,200 $ 259,800 $ 66,150 $ 3,172,500 $ 1,672,500 $ 382,500 January 1 $ 391,500 $ 267,000 $ 70,500 $ 251,550 $ 79,950 Multiple Choice $3,276,000 $3.172.500
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