Sales reported on the income statement were $350,000. The accounts receivable balance increased by $15,000 over the year. Determine the amount of cash received from customers. a) $335,000 b) $365,000 c) $350,000 d) $375,000

Sales reported on the income statement were $350,000. The accounts receivable balance increased by $15,000 over the year. Determine the amount of cash received from customers. a) $335,000 b) $365,000 c) $350,000 d) $375,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 5MC

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Question

Please given correct answer for General accounting question I need step by step explanation

Sales reported on the income statement were $350,000.
The accounts receivable balance increased by $15,000
over the year. Determine the amount of cash received
from customers.
a) $335,000
b) $365,000
c) $350,000
d) $375,000

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