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The income statement of Larkin Inc. reported total sales revenue of $250,500 during the current year. Assume that all sales are credit sales. The company's
The income statement of Larkin Inc. reported total sales revenue of $250,500 during the current year. Assume that all sales are credit sales. The company's comparative balance sheets reported a balance in accounts receivable of $37,500 at the beginning of the year and $52,500 at the end of the year. The cash inflow from customers during the current year equals:
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