Accounts Receivable Arising from Sales to Customers Amounted to $120,000

question 202

Multiple Choice

Accounts receivable arising from sales to customers amounted to $120,000 and $105,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $407,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is

• A) $407,000.
• B) $422,000.
• C) $512,000.
• D) $392,000.

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