A company had annual sales of $1,000. The opening balance of accounts receivable was $250,...
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A company had annual sales of $1,000. The opening balance of accounts receivable was $250, and the closing balance was $300. The opening balance of accounts payable was $150, and the closing balance was $250. Which the following statements is true about the company? Multiple choice question. Collections for the year exceeded annual sales by $50. Net working capital of the company decreased by $50 Annual sales exceeded collections for the year by $150. Net working capital of the company increased by $50
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