Thomas Inc

question 110

Multiple Choice

Thomas Inc. uses the direct method to prepare its statement of cash flows. Refer to the following information reported for the year 2014: Sales Revenue, $39,000
Interest Revenue, $500
Accounts Receivable, beginning balance, $13,000
Accounts Receivable, ending balance, $26,000
There were no amounts reported for Interest Receivable.
In the operating activities section of the statement of cash flows, what amount will be shown for total cash receipts?

• A)$26,000
• B)$52,000
• C)$26,500
• D)$13,000

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