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What was the cash collected from customers during year two

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Reference no: EM132495700

Question 1: Phillips Co. reported total credit sales of $241,000 for Year 2. Its accounts receivable totaled $38,500 and $56,000 at the beginning and end of the year, respectively. What was the cash collected from customers during Year 2?

Option 1: $241,000

Option 2: $258,500

Option 3: $223,500

Option 4: $279,500

Reference no: EM132495700

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