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Determine how much cash was collected from customers

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Reference no: EM132728722

Problem 1: Andrew Company sold goods to customers in 2017 at selling price of $1,800,000. 60% of the customers paid on account, and from these, the company collected 80% of amounts owing during 2017. How much cash was collected from customers in 2017?

a. $864,000
b. $1,080,000
c. None of the other answers is correct.
d. $1,584,000

Reference no: EM132728722

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