Sales for the year were $500,000. Accounts receivable were $100,000 and $80,000 at the beginning and end of the year, respectively. 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.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Sales for the year were $500,000. Accounts receivable were $100,000 and $80,000 at the beginning and end of the year, respectively. Cash ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Choose the correct statement. A. Upper A bank's reserves are notes and coins in the bank's vault or in a deposit account at the Federal Reserve. B. In 2017 about 700 commercial banks operated in the United States. C.
Answers (1)
Michaels sets goals at the top of the organization. Then, breaks down these objectives for merchandise categories and regions. When these objectives reach the buyers, each objective is personalized. What does this process demonstrate?
Answers (1)
Calculate Loan Amount Enter the cost of the potential car, down payment, and fees below. Press calculate when you're ready.
Answers (1)
Which type of banking institution is most suitable for Glenn and Maggie's business?
Answers (1)
At the end of 2020, Payne Industries had a deferred tax asset account with a balance of $95 million attributable to a temporary book-tax difference of $380 million in a liability for estimated expenses.
Answers (1)
New Questions in Business
Depasquale Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.51 direct labor-hours. The direct labor rate is $8.60 per direct labor-hour.
Answers (1)
Bruce is a salaried nonexempt employee who earns $42,500 annually, paid semimonthly, plus a 0.25% commission on all regional sales, paid monthly on the first pay date of the following month. During the month of May, the regional sales were $103,500.
Answers (1)
What could occur if grease trap is not maintained
Answers (1)
Waupaca Company establishes a $440 petty cash fund on September 9. On September 30, the fund shows $193 in cash along with receipts for the following expenditures: transportation-in, $46; postage expenses, $78; and miscellaneous expenses, $111.
Answers (1)
On September 1, the board of directors of Colorado Outfitters, Inc., declares a stock dividend on its 16,000, $7 par, common shares. The market price of the common stock is $36 on this date.
Answers (1)