In 2022, USC Company recognized sales on account of $100,000. The company also has the following information:

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December 31, 2022, December 31, 2021

Accounts Receivable $ 70,000 $ 50,000

Accounts Payable $ 40,000 $ 65,000

Calculate the amount of cash received from customers for USC for 2022.

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Financial Accounting Tools for Business Decision Making

ISBN: 978-1119493631

9th edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Posted Date: Dec 12, 2023 02:04 AM

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In 2022, USC Company recognized sales on account of $100,000. The company also has the following information:

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To calculate the amount of cash received from customers we can use the formula Cash Receive... View the full answer

Financial Accounting Tools for Business Decision Making

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