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River Company began the accounting period with a $79,500 debit balance in its Accounts Receivable account. During the accounting period, River Company earned revenue on account of $349,600. The ending Accounts Receivable balance was $74,500. Required Based on this information alone, determine the amount of cash inflow from operating activities during the accounting period. (Hint: Use a T-account for Accounts Receivable. Enter the debits and credits for the given events, and solve for the missing amount.) Cash inflow from operating activities

River Company began the accounting period with a $79,500 debit balance in its Accounts Receivable account. During the accounting period, River Company earned revenue on account of $349,600. The ending Accounts Receivable balance was $74,500. Required Based on this information alone, determine the amount of cash inflow from operating activities during the accounting period. (Hint: Use a T-account for Accounts Receivable. Enter the debits and credits for the given events, and solve for the missing amount.) Cash inflow from operating activities

FINANCIAL ACCOUNTING
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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River Company began the accounting period with a $79,500 debit balance in its Accounts Receivable account. During the accounting period, River Company earned revenue on account of $349,600. The ending Accounts Receivable balance was $74,500. Required Based on this information alone, determine the amount of cash inflow from operating activities during the accounting period. (Hint: Use a T-account for Accounts Receivable. Enter the debits and credits for the given events, and solve for the missing amount.) Cash inflow from operating activities
Transcribed Image Text:River Company began the accounting period with a $79,500 debit balance in its Accounts Receivable account. During the accounting period, River Company earned revenue on account of $349,600. The ending Accounts Receivable balance was $74,500. Required Based on this information alone, determine the amount of cash inflow from operating activities during the accounting period. (Hint: Use a T-account for Accounts Receivable. Enter the debits and credits for the given events, and solve for the missing amount.) Cash inflow from operating activities
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