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The Smith Daughters, Inc. started and ended the year with unearned revenue account balances of $500,000 and $485,000. Smith Daughters collects all payments in advance
The Smith Daughters, Inc. started and ended the year with unearned revenue account balances of $500,000 and $485,000. Smith Daughters collects all payments in advance of service. The company earned $2,000,000 of revenue from customers. How much cash did the company collect as advances from customers during the year?
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