A company collects $100 cash on an account receivable from a customer for a sale last period.

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A company collects $100 cash on an account receivable from a customer for a sale last period. How would the receipt of cash impact the following two financial statements this period?LO1 image text in transcribed

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Financial Accounting

ISBN: 9780070891739

1st Canadian Edition

Authors: Robert Libby

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Question Posted: Jul 01, 2024 11:13 AM

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A company collects $100 cash on an account receivable from a customer for a sale last period.

Question:

Income Statement a. Revenue + $100 b. No impact Statement of Cash Flows Inflow from investing Inflow from financing c. Revenue $100 - d. No impact Inflow from operations Inflow from operations

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Financial Accounting

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