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The Whackem-Smackem Software Company sold $15 million of computer games in its first year of operations. The company received payments of $9.50 million for these
The Whackem-Smackem Software Company sold $15 million of computer games in its first year of operations. The company received payments of $9.50 million for these computer games. The company's income statement would report:
sales revenue of $9.50 million.
accounts receivable of $9.50 million.
expenses of $5.50 million.
sales revenue of $15 million.
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