Oak began the year with a balance of $5,000 in Accounts Receivable and ended the year with

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$8,000 in the account. Revenues for the period amounted to $37,000. Under the direct method of preparing the statement of cash flows, Oak will report cash collected from customers of

a. $34,000.

b. $37,000.

c. $40,000.

d. $42,000.

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Financial Accounting The Impact On Decision Makers

ISBN: 9780324655230

6th Edition

Authors: Gary A. Porter, Curtis L. Norton

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Question Posted: Jun 10, 2024 01:13 AM

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Oak began the year with a balance of $5,000 in Accounts Receivable and ended the year with

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Financial Accounting The Impact On Decision Makers

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