Benezra S.A., a large Brazilian petrochemical company, reported a balance of R$1,600 million in Accounts Receivable at the beginning of 2013 and R$1,500 million at the end of 2013 . Its income statement reported total Sales Revenue of R$12,000 million for 2013 . Assuming that Benezra makes all sales on account, compute the amount of cash collected from customers during 2013 . Benezra applies
Brazilian accounting standards, and reports its results in thousands of reals (R$), the Brazilian currency. (In answering this question, assume that Benezra uses either U.S. GAAP or IFRS; for purposes of this problem, this choice will not matter.)
a. 12,000
b. 11,900
c. 12,100
d. 13,600
e. 13,500
C
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