Question
Sales reported on the income statement totaled $750,000. The beginning balance in accounts receivable $70,000. The ending balance in accounts receivable was $80,000. Under the
Sales reported on the income statement totaled $750,000. The beginning balance in accounts receivable $70,000. The ending balance in accounts receivable was $80,000. Under the direct method of determining the net cash flow provided by operation activities in the statement of cash flows, sales adjusted to a cash basis are how much?
A. $740,000
B. $760,000
C. $830,000
D. $680,000
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Fundamental financial accounting concepts
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
8th edition
978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365
