Tropical Tours reported revenue of $400,000 for its year ended December 31, Year2. Accounts receivable at December 31, Year1 and
Year2, were $35,000 and $32,000, respectively. Using the direct method for reporting cash flows from operating activities, Tropical Tours would report cash collected from customers of:
a. $400,000.
b. $397,000.
c. $403,000.
d. $365,000.
a. $400,000.
b. $397,000.
c. $403,000.
d. $365,000.
1 answer:
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