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Glenview Corporation's statement of cash flows for the year ended December 31, 2020, was prepared using the indirect method, and it included the following items: Net income: $110,000 Noncash adjustments: Depreciation expense: $15,000 Decrease in accounts receivable: $6,000 Increase in accounts payable: $9,000 Net cash flows from operating activities: $140,000 Glenview Corporation reported revenues from customers of $120,000 in its 2020 income statement. What amount of cash did Glenview receive from customers during the year ended December 31, 2020?

Glenview Corporation's statement of cash flows for the year ended December 31, 2020, was prepared using the indirect method, and it included the following items: Net income: $110,000 Noncash adjustments: Depreciation expense: $15,000 Decrease in accounts receivable: $6,000 Increase in accounts payable: $9,000 Net cash flows from operating activities: $140,000 Glenview Corporation reported revenues from customers of $120,000 in its 2020 income statement. What amount of cash did Glenview receive from customers during the year ended December 31, 2020?

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter16: Statement Of Cash Flows
Section: Chapter Questions
Problem 6EA: Use the following information from Birch Companys balance sheets to determine net cash flows from...
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What amount of cash did glenview receive from customer?

Glenview Corporation's statement of cash flows for the year ended December 31, 2020, was prepared using the indirect method, and it included the following items: Net income: $110,000 Noncash adjustments: Depreciation expense: $15,000 Decrease in accounts receivable: $6,000 Increase in accounts payable: $9,000 Net cash flows from operating activities: $140,000 Glenview Corporation reported revenues from customers of $120,000 in its 2020 income statement. What amount of cash did Glenview receive from customers during the year ended December 31, 2020?
Transcribed Image Text:Glenview Corporation's statement of cash flows for the year ended December 31, 2020, was prepared using the indirect method, and it included the following items: Net income: $110,000 Noncash adjustments: Depreciation expense: $15,000 Decrease in accounts receivable: $6,000 Increase in accounts payable: $9,000 Net cash flows from operating activities: $140,000 Glenview Corporation reported revenues from customers of $120,000 in its 2020 income statement. What amount of cash did Glenview receive from customers during the year ended December 31, 2020?
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