The 2013 income statement of Peterson Co. reported total sales revenue of $230,000; the 2012 balance sheet showed a balance in accounts receivable of $35,000 while the 2013 balance sheet showed a balance in accounts receivable of $50,000. The amount of cash collected from customers was:
A) $265,000.
B) $245,000.
C) $215,000.
D) $230,000.
Correct Answer:
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