Question
On December 31, 2013, Wellstone Company reported net income of $79,000 and sales of $215,000. The company also reported beginning and ending accounts receivable at
On December 31, 2013, Wellstone Company reported net income of $79,000 and sales of $215,000. The company also reported beginning and ending accounts receivable at $18,000 and $26,000, respectively. Wellstone will report cash collected from customers in its 2013 statement of cash flows (direct method) in the amount of:
A-$223,000.
B-$241,000.
C-$207,000.
D-$118,000.
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Implementing And Auditing The Internal Control System
Authors: D. Chorafas
1st Edition
0333929365, 9780333929360
