Melville Company reported sales of $700,000, bad debt expense of $60,000, and an increase in net accounts receivable of $150,000 during the current year. What is the amount of cash collected from customers for the current year if the company did not record any write-offs during the current year?
a. $550,000
b. $590,000
c. $610,000
d. $640,000
A
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