Given the following information, convert Lark Companys sales revenue from its income statement into collections from customers

Question:

Given the following information, convert Lark Company’s sales revenue from its income statement into collections from customers for its statement of cash flows.
Sales revenue ............. $80,000
Increase in ...... 20,000
Increase in deferred revenue ....... 10,000

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...