Question
SRS Systems, Inc had accounts receivable of $27,000 at the beginning of the year and $56,000 at year end. Revenue for the year totaled $106,000.
SRS Systems, Inc had accounts receivable of $27,000 at the beginning of the year and $56,000 at year end. Revenue for the year totaled $106,000. How much cash did SRS Systems collect from its customers?
The answer is $77,000. It is from the chapter of Statement of Cash Flows. How do you get the answer?
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Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
4th Edition
0470534788, 978-0470534786
