Question
The ending balance of accounts receivable was $81,000. Sales, adjusted to a cash basis using the direct method on the statement of cash flows, were
The ending balance of accounts receivable was $81,000. Sales, adjusted to a cash basis using the direct method on the statement of cash flows, were $366,000. Sales reported on the income statement were $396,000. Based on this information, the beginning balance in accounts receivable was:
A. $30,000
B. $112,000
C. $51,000
D. $111,000
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Management Accounting Change Approaches And Perspectives
Authors: Chandana Alawattage, Danture Wickramasinghe
1st Edition
0415393329, 978-0415393324
