FINANCIAL ACCOUNTING: TOOLS LL W/ ACCES
9th Edition
ISBN: 9781119493648
Author: Kimmel
Publisher: WILEY
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During 20x2 Creswell Corporation sold $5,500 of inventory on credit. The company's beginning and ending accounts receivable balances were $30,000 and $32,500, respectively. How much cash did Creswell Corporation collect on the account? If the ending accounts receivable had been $27,000, how much cash would Creswell Corporation have collected?
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