If Customers Owe $120 000 at the Beginning of the Year

question 27

Multiple Choice

If customers owe $120 000 at the beginning of the year and $95 000 at the end of the year,and credit sales total $250 000 for the year,the cash received from customers during the year is:

• A) $120 000
• B) $370 000
• C) $275 000
• D) $155 000

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Definitions:

Species

A group of living organisms consisting of similar individuals capable of exchanging genes or interbreeding, classified within a common category.

Referent

An object or event in the world that a word or phrase denotes, refers to, or stands for.

Genus

A term used in taxonomy to rank an organism, grouping together species that share common characteristics.

Species

An assembly of living entities which are alike in nature and have the ability to mate or share genes.