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Insomnia Corp uses the direct method for preparing the operating section of the statement of cash flows. The income statement reported $250,000 of sales revenue.
Insomnia Corp uses the direct method for preparing the operating section of the statement of cash flows. The income statement reported $250,000 of sales revenue. The balance sheet reported the following changes in current assets and current liabilities: Accounts Receivable - increase of $10,000 Accounts Payable - decrease of $6,000 Deferred revenue - increase of $8,000 In the statement of cash flows, what amount would be reported as cash received from customers? $268,000 $242,000 $248,000 None of the answers provided are correct
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