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Financial Reporting and Analysis Q155

0. Amanda Mills Ltd. reported revenues of $10 million, expenses of $7.5 million, and a profit of $2.5 million. Accounts receivable increased by $4 million. The cash received from its customers is closest to:

  • Option : A
  • Explanation : Cash collected = Revenue - Increase in Accounts receivable Cash collected = $10 million - $4 million = $6 million.
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