Business, 29.01.2021 16:00 Magalaki1926

Accounts receivable arising from sales to customers amounted to $40,000 and $32,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $110,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is: A. $118,000.
B. $110,000.
C. $102,000.
D. $150,000.

Credit memos from the bank
decrease a bank customer's account
are used to show a bank service charge
show that a company has deposited a customer's NSF check
show the bank has collected a note receivable for the customer

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Accounts receivable arising from sales to customers amounted to $40,000 and $32,000 at the beginning...

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