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ABC reported sales of $300,000, write-offs of uncollectible accounts of $10,000 against the allowance for doubtful accounts, and a decrease in net accounts receivable of $40,000 during 2014. What would be ABC's cash collected from customers during 2014?
A. $300,000
B. $340,000
C. $350,000
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In the previous problem, how much interest expense would appear on the income statement for each year? How would the bonds be presented on the balance sheet at December 31, 19X1?
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There were no dividends declared in 2009. The board of directors declares and pays a $90,000 dividend in 2010 and in 2011. Illustrate what is the amount of dividends received by the common stockholders in 2011?
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