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Nabo Corporation reports the following balances: Accounts Receivable Inventory Accounts Payable Unearned Revenue As of 12/31/23 40,000 80,000 60,000 20,000 $277,500 $285,000 $290,000 $302.500 Year ended 12/31/23 As of 12/31/22 35,000 70,000 67,500 27,500 Year ended 12/31/22 Sales 290,000 Cost of Goods Sold 150,000 How much Cash did Nabo collect from customers in 2023? 250,000 115,000

Nabo Corporation reports the following balances: Accounts Receivable Inventory Accounts Payable Unearned Revenue As of 12/31/23 40,000 80,000 60,000 20,000 $277,500 $285,000 $290,000 $302.500 Year ended 12/31/23 As of 12/31/22 35,000 70,000 67,500 27,500 Year ended 12/31/22 Sales 290,000 Cost of Goods Sold 150,000 How much Cash did Nabo collect from customers in 2023? 250,000 115,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Nabo Corporation reports the following balances: Accounts Receivable Inventory Accounts Payable Unearned Revenue As of 12/31/23 40,000 80,000 60,000 20,000 $277,500 $285,000 $290,000 $302,500 Year ended 12/31/23 As of 12/31/22 35,000 70,000 67,500 27,500 Year ended 12/31/22 Sales 290,000 Cost of Goods Sold 150,000 How much Cash did Nabo collect from customers in 2023? 250,000 115,000
Transcribed Image Text:Nabo Corporation reports the following balances: Accounts Receivable Inventory Accounts Payable Unearned Revenue As of 12/31/23 40,000 80,000 60,000 20,000 $277,500 $285,000 $290,000 $302,500 Year ended 12/31/23 As of 12/31/22 35,000 70,000 67,500 27,500 Year ended 12/31/22 Sales 290,000 Cost of Goods Sold 150,000 How much Cash did Nabo collect from customers in 2023? 250,000 115,000
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