The Following Information Was Taken from the 2014 Financial Statements

question 9

Multiple Choice

The following information was taken from the 2014 financial statements of Glocken Corporation:

No accounts receivable were written off or recovered during the year.If Glocken prepares a statement of cash flows using the direct method,what amount should be reported as collected from customers in 2014?

• A)$2,239,000
• B)$2,234,000
• C)$2,146,000
• D)$2,141,000

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Definitions:

Interest Rates

Interest rates represent the cost of borrowing money or the return on invested funds, expressed as a percentage of the principal.

Borrowing

The act of receiving something with the intention of returning it or its equivalent, often referring to money with interest.

Chinese Consumers

Individuals or groups in China engaging in the purchase of goods and services.

US Goods

Products and commodities that are manufactured or produced within the United States.