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Widlak Co. reported sales revenue of $4,600 on its income statement for the year ended December 31, 2024. The Accounts Receivable account decreased from $1,400
Widlak Co. reported sales revenue of $4,600 on its income statement for the year ended December 31, 2024. The Accounts Receivable account decreased from $1,400 to $1,200 during 2024. The Allowance for Uncollectible Accounts decreased by $300 during 2024. Bad Debt Expense for 2024 was $75. Under the cash basis of accounting, Widlak would have reported 2024 sales of: Select one: a. $4,225 b. $4,400 c. $4,325 d. $4,425 e. $4,025 Which of the following are added to (as opposed to subtracted from) cash paid for expenses in calculating total expenses? Select one: a. Increase in Prepaid Expense and Increase in Accrued Expense b. Decrease in Prepaid Expense and Increase in Accrued Expense c. Decrease in Prepaid Expense and Decrease in Accrued Expense d. Increase in Prepaid Expense and Decrease in Accrued Expense
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