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Compute the amount of cash received from collecting accounts

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Problem 1: During the current year, ABC Inc., made cash sales of $275,000 and credit sales of $450,000. During the year, accounts receivable decreased by $32,000. Compute the amount of Cash received from collecting accounts receivable.for the current year.

Option 1: $492,000

Option 2: $482,000

Option 3: $418,000

Reference no: EM132767192

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