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Business, 24.02.2020 19:48 mommykathryn10pb9bdb

During the first year of operation, 2018, McGinnis Appliance recognized $340,000 of service revenue on account. At the end of 2018, the accounts receivable balance was $66,836. Even though this is his first year in business, the owner believes he will collect all but about 5 percent of the ending balance. Required What amount of cash was collected by McGinnis during 2018

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During the first year of operation, 2018, McGinnis Appliance recognized $340,000 of service revenue...
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