Solved: Cash collections from customers for services that have not, Accounting Basics

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Cash collections from customers for services that have not

Question - Dover Corporation has provided the following information for the year just ended:

• Cash sales totaled $125,000

• Credit sales totaled $279,000

• Cash collections from customers for services that have not been provided yet totaled $38,000

• There was an $11,000 gain from the sale of property and equipment

• Interest income totaled $8,000

How much did net income increase due to these items?

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