20. The Smith Company uses the cash basis of accounting. Smith Company collected $800,000 from...
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Accounting
20. The Smith Company uses the cash basis of accounting. Smith Company collected $800,000 from its customers during the year. Smith had $40,000 in Accounts Receivable at the beginning of the year, and $90,000 in Accounts Receivable at the end of the year. What is Smith's Sales Revenue under the accrual basis of accounting?
a. $660,000
b. $700,000
c. $740,000
d. $850,000
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