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stealth61 [152]
3 years ago
10

Sales for the year were $500,000. Accounts receivable were $100,000 and $80,000 at the beginning and end of the year, respective

ly. Cash received from customers to be reported on the cash flow statement using the direct method is a.$520,000. b.$480,000. c.$500,000. d.$600,000.
Business
1 answer:
anygoal [31]3 years ago
4 0

Answer:

a.$520,000

Explanation:

                                                                                  Amount($)

Sales for the year                                                       500,000

Opening accounts receivable                                   100,000

Closing accounts receivable                                   <u>  (80,000)</u>

Cash received from customers                               <u>  520,000</u>

Cash received from customers to be reported on the cash flow statement using the direct method is $520,000.

Cash flow statements are usually stated using the direct method or indirect method.

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