Burke Inc.'s accounts receivable balance increased during the year from $300,000 to $360,000. Based on this information, which of the following statements is true?
A) Cash received from customers was greater than sales revenue recorded during the year.
B) Cash received from customers was less than sales revenue recorded during the year.
C) Cash received from customers was exactly equal to sales revenue recorded during the year.
D) Cash received from customers was higher than cash paid to suppliers during the year.
Correct Answer:
Verified
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