Hi expert please given correct answer with accounting Revenue reported on the income statement was $435,780. The accountsreceivable balance increased by $32,650 over the year. Determine the amountof cash received from customers.a. $368,480b. $403,130c. $435,780d. $468,430

Step 1: Definition of Cash Received from CustomersCash received from customers refers to the actual…

Answered: Revenue reported on the income…

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter6: Statement Of Cash Flows

Section: Chapter Questions

Problem 14E

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Smoltz Company reported the following information for the current year: cost of goods sold, $252,500; increase in inventory, $21,700; and increase in accounts payable, $12,200. What is the amount of cash paid to suppliers that Smoltz would report on its statement of cash flows under the direct method? a. $218,600 c. $262,000 b. $243,000 d. $286,400
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Cash Received from Customers—Direct Method Sales reported on the income statement were $225,000. The accounts receivable balance decreased $14,300 over the year. Determine the amount of cash received from customers.$
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Revenue reported on the income statement was $435,780. The accounts receivable balance increased by $32,650 over the year. Determine the amount of cash received from customers. a. $368,480 b. $403,130 c. $435,780 d. $468,430