Question
On December 31, 2016, Wellstone Company reported net income of $76,000 and sales of $217,000. The company also reported beginning and ending accounts receivable at
On December 31, 2016, Wellstone Company reported net income of $76,000 and sales of $217,000. The company also reported beginning and ending accounts receivable at $15,500 and $26,000, respectively. Wellstone will report cash collected from customers in its 2016 statement of cash flows (direct method) in the amount of:
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Cornerstones Of Financial Accounting
Authors: Jay Rich, Jefferson Jones, Maryanne Mowen, Don Hansen, Donald Jones, Ralph Tassone
2nd Canadian Edition
0176707123, 978-0176707125
