On January 1, Year 2, the balance of Jacobs Corporation's Accounts Receivable was $29,000. Sales on account for Year 2 amounted to $178,000 and the ending balance of Accounts Receivable was $45,500. What is the amount of cash collected from customers?
A. $207,000
B. $132,500
C. $161,500
D. $194,500
Answer: C
Business
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