St.Pierre Enterprises reported the following information in its financial statements: $\begin{array}{lrr}
\text { Amounts are as of or for the year ended } & \text { Prior Year } & \text { Current Year } \
\text { Inventory } & \$ 55,000 & \$ 80,000\
\text { Accounts Receivable } & 68,000 & 103,000 \
\text { Accounts Payable } & 34,500 & 40,000 \
\text { Sales Revenue } & 305,000 & 375,000 \
\text { Cost of Goods Sold } & 203,000 & 250,000
\end{array}$ What is the amount of cash collected from customers during the current year?
A)$350,000
B)$380,500
C)$340,000
D)$410,000

Question

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The Answer of St.Pierre Enterprises reported the following information in its financial statements: $\begin{array}{lrr}
\text { Amounts are as of or for the year ended } & \text { Prior Year } & \text { Current Year } \
\text { Inventory } & \$ 55,000 & \$ 80,000\
\text { Accounts Receivable } & 68,000 & 103,000 \
\text { Accounts Payable } & 34,500 & 40,000 \
\text { Sales Revenue } & 305,000 & 375,000 \
\text { Cost of Goods Sold } & 203,000 & 250,000
\end{array}$ What is the amount of cash collected from customers during the current year?
A)$350,000
B)$380,500
C)$340,000
D)$410,000

StPierre Enterprises Reported the Following Information in Its Financial Statements