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What was the net cash inflow from customer receipts

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Q1. The beginning balance of Accounts Receivable was $84,000 and the ending balance was $54,000. Sales were $340,000. What was the net cash inflow from customer receipts?

A. $310,000.

B. $370,000.

C. $394,000.

D. $256,000.

E. None of the above.

Q2. The Prepaid Insurance account had a beginning balance of $7,000 and an ending balance of $12,000. The Insurance Expense account has an ending balance of $4,500. What was the net cash outflow related to insurance expense?

A. $9,500.

B. $7,500.

C. $5,000.

D. $14,50.

E. None of the above.

Reference no: EM132783252

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