How much does MHR report on its balance sheet for accounts receivable on December 31, 2008? What
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How much does MHR report on its balance sheet for accounts receivable on December 31, 2008? What does that amount represent (how would you explain its meaning to a novice user of financial statements)? How much do MHR’s customers actually owe it on December 31, 2008? Why are the two amounts different?
MHR’s consolidated balance sheets, statements of income, and statements of cash flow, along with extracts from the notes to the financial statements are provided in Exhibit 6.5.
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