Question
The ending balance of accounts receivable was $88,000. Sales, adjusted to a cash basis using the direct method on the statement of cash flows, were
The ending balance of accounts receivable was $88,000. Sales, adjusted to a cash basis using the direct method on the statement of cash flows, were $373,000. Sales reported on the income statement were $406,500. Based on this information, the beginning balance in accounts receivable was:
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Daniel Short, George Kanaan, Maureen Sterling
7th Canadian Edition
1260065952, 978-1260065954
