Question: In its April 30, 2018 financial statements, Murphy Inc. (Murphy) reported a beginning accounts receivable balance of $363,000 and an ending accounts receivable balance of

In its April 30, 2018 financial statements, Murphy Inc. (Murphy) reported a beginning accounts receivable balance of $363,000 and an ending accounts receivable balance of $456,000. Murphy reported sales for the year ended April 30, 2018 of $4,626,000. All sales are on credit.

Required:

Calculate the amount of cash Murphy collected from customers during fiscal 2018.

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