If $20 000 Is Owed by Customers at the Beginning

question 27

Multiple Choice

If $20 000 is owed by customers at the beginning of the year,$15 000 is owed at the end and credit sales are $100 000,the cash received from customers for the year is:

• A)$120 000
• B)$115 000
• C)$100 000
• D)$105 000

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Definitions:

Medicaid

A government healthcare program in the United States that provides health coverage to eligible low-income adults, children, pregnant women, elderly adults, and people with disabilities.

Social Insurance Program

A government-sponsored program that provides financial assistance to individuals in the form of retirement benefits, disability income, and other social security benefits.

Public Assistance Program

Government programs designed to provide financial aid or services to individuals in need to support their well-being.