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4 May, 04:55

Hamilton Company reported an increase of $370,000 in its accounts receivable during the year 2018. The company's statement of cash flows for 2018 reported $1 million of cash received from customers. What amount of net sales must Hamilton have recorded in 2018? a. $630,000b. $1,370,000c. $1,000,000d. $370,000

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  1. 4 May, 08:24
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    amount of net sales = $1370,000

    so correct option is b. $1,370,000

    Explanation:

    given data

    Increase in Accounts Receivable = $370,000

    Cash Received = $1 million

    to find out

    amount of net sales

    solution

    we get here amount of net sales that is express as

    amount of net sales = Cash Received + Increase in Accounts Receivable ... 1

    put here value we get

    amount of net sales = $1000000 + $370,000

    amount of net sales = $1370,000

    so correct option is b. $1,370,000
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