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7. All of the following are components of working capital as of December 31, 2018 except: A. Accounts payable due during 2019
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7. D. Outstanding balance of a line of credit due on January 1, 2020.

Working capital includes current assets and current liabilities pertaining to the upcoming period of 12 months only, i.e those pertaining to 2019 only.

8. C. $ 253,000

Amount collected from customers = $ 50,000 + $ 250,000 - $ 47,000 = $ 253,000.

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