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Kennewick Corp. had a beginning balance in accounts receivable of $70,000 and an ending balance of $91,000. Credit sales during the period were $598,000. Determine cash collections.

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Respuesta :

Answer:Cash collections = $577,000

Explanation:

Cash collections is solved as

Opening balance + credit sales - Closing balance

= $70,000 + $598,000 - $91,000

Cash collections = $577,000