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Question 1: For Engle Company, the balance in Accounts Receivable at the beginning of the period was $800. During the period $3,200 of credit sales were made to customers. If the ending balance in Accounts Receivable amounted to $400, and uncollectible accounts of $200 were written off, the amount of cash inflow from customers that would appear in the operating section of the cash statement would be:
Group of answer choices
Option 1: $3,400.
Option 2: $3,200.
Option 3: $4,000.
Option 4: $3,300.
Financial Statement Analysis and Preparation
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