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In the accompanying figure, item 2 points to the ____.
Accounts Receivable
Funds that customers owe to a business for products or services that have been provided but remain unpaid.
Cash Collected
The total amount of money received by a company during a specific period, usually from its operations or activities.
Income Statement
A financial statement that shows a company's revenues and expenses over a specific period, culminating in the net profit or loss for that period.
Accounts Payable
The amounts owed by a company to suppliers or creditors for goods and services received but not yet paid for.
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