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Glenwood Corp. reported net sales of $580,000 on its income statement for 20X6. Question: If...

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Accounting

Glenwood Corp. reported net sales of $580,000 on its income statement for 20X6. Question: If its accounts receivable balance decreased by $40,000 from the beginning to the end of 20X6, how much cash did Glenwood collect from customers in 20X6? Do not use decimals or cents in your response.

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