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21 February, 13:41

Kephlee is an amusement park operator and provided the following select financial dа ta:

($ in millions) December 31, 2020

Revenue $121.5

Cash proceeds from the sale of a merry go round $15.4

Cash flows from operations $121.4

December 31, 2019 December 31, 2020

Accounts receivable 95.4 123.5

Deferred revenue 34.6 45.6

Based on the information provided, what were cash sales during 2020?

A. $136.9

B. $119.8

C. $104.4

D. $93.4

E. $82.4

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Answers (1)
  1. 21 February, 17:27
    0
    Option C is correct answer.

    $104.4

    Explanation:

    Cash sales = revenue + change in accounts receivable + change in deferred revenue

    = 95.4+121.5-123.5 + (45.6-34.6)

    = $104.40
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