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During the Financial Year Marina Limited Had Sales of $720

Question 1

Multiple Choice

During the financial year Marina Limited had sales of $720 000. The beginning balance of accounts receivable was $103 000, and the ending balance was $139 000. Bad debts amounting to $34 000 were written off during the period. The cash receipts from customers during the year amounted to:


A) $650 000
B) $718 000
C) $722 000
D) $790 000.

Correct Answer:

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