You must also show all steps in your calculation to earn full credit. Lagos Corp. recorded sales
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You must also show all steps in your calculation to earn full credit.
- Lagos Corp. recorded sales of $345,000 in 2010. In addition, its accounts receivable and accounts payable balances at the beginning and end of 2010 were as follows: (2 points)
Jan. 1, 2010 | Dec. 31, 2010 | ||
Accounts Receivable | $65,000 | $90,000 | |
Accounts Payable | $32,000 | $28,000 |
How much cash did Lagos collect from customers in 2010?
a. | $345,000 |
b. | $320,000 |
c. | $324,000 |
d. | $316,000 |
Related Book For
Horngrens Accounting
ISBN: 978-0133855371
10th Canadian edition Volume 1
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood
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