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Working Backward: Accounts Receivable and the Statement of Cash Flows

Troy Corp.'s statement of cash flows reported an addition of $2,000 for the change in the Accounts Receivable account during the year. Sales on account for the year amounted to $24,500.

Required:

Determine the cash collected on accounts receivable for the year.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91624967

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