Nacho Mama's Cantina has several investments that pay annual dividends.Mama reported dividend revenue of $38,800 on her income statement dated December 31, 20x7.If the balance in Mama's dividends receivable account on January 1, 20x7 was $4,400, and her ending balance in that account on December31, 20x7 was $7,000,how much cash did Mama receive from dividends during 20x7?Multiple Choice$38,800.$31,800.$41.400

The cash flow statement is prepared to record the cash flow from various activities during the…

Answered: Nacho Mama's Cantina has several…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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