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Determine how much cash collerted from customers during year

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Problem 1: Philip Corp reported credit sales of $240,000 and write-offs of bad debts of $57,000 for last year. Accounts receivable had a balance of $1,127,000 at the beginning of the year and $881,000 at the end of the year. How much cash was collerted from customers during the year?

Reference no: EM132721124

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