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The balance in Accounts Receivable at the beginning of the period amounted to $16,000. Assume use of the allowance method of accounting for bad debts.
The balance in Accounts Receivable at the beginning of the period amounted to $16,000. Assume use of the allowance method of accounting for bad debts. During the period $64,000 of credit sales were made to customers. If the ending balance in Accounts Receivable amounted to $10,000, and uncollectible accounts expense amounted to $4,000, then the amount of cash inflow from customers that would appear in the operating activities section of the cash flow statement would be:
$66,000.
$64,000.
$80,000.
None of these answers are correct.
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