Question
Saturday Company, a consulting firm, has provided below various 12/31st account balances all of which are normal. Saturday purchases all supplies on account from vendor,
Saturday Company, a consulting firm, has provided below various 12/31st account balances all of which are normal. Saturday purchases all supplies on account from vendor, Quick supply and performs all consulting services "on account."
*the Accounts Receivable above is shown net of the allowance account (the allowance for doubtful accounts totaled $9,200 at the end of 2019 and $39,120 at the end of 2020).
Below, Saturday has provided the details for the company's income from operations for the twelve months ended 12/31/2020:
What was the combined (i.e., net) cash inflow from the following two items (i) cash collected from customers during 2020 for consulting services and (ii) cash paid during 2020 for insurance?
Group of answer choices
$378,495
$450,415
None of the answer choices provided are correct.
$470,415
$408,415
$401,310
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