Consider the following account balances and other information, and answer the question that follows.
Credit sales for the year ended 30 June 20X2 totaled $2 200 000 and credit sales for the year ended 30 June 20X3 totaled $3 000 000.Bad debts were all recognised by debiting the Estimated uncollectible debts account.What was the total amount of cash received from customers over the period 1 July 20X1 to 30 June 20X3?
A) $4 697 000
B) $4 698 000
C) $4 700 000
D) $4 702 000
Correct Answer:
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