If sales revenue is $110 million and accounts receivable increased by $18 million, the amount of cash received from customers: a. was $110 million. b. was $73 million. c. depends on the mix of cash sales and credit sales. d. was $92 million.
If sales revenue is $110 million and accounts receivable increased by $18 million, the amount of cash received from customers: a. was $110 million. b. was $73 million. c. depends on the mix of cash sales and credit sales. d. was $92 million.
Chapter16: Working Capital Policy And Short-term Financing
Section: Chapter Questions
Problem 12P
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Transcribed Image Text:If sales revenue is $110 million and accounts
receivable increased by $18 million, the amount of
cash received from customers:
a. was $110 million.
b. was $73 million.
c. depends on the mix of cash sales and credit sales.
d. was $92 million.
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