Mid-Town Auto Parts Company Uses the Direct Method to Prepare

question 87

Multiple Choice

Mid-Town Auto Parts Company uses the direct method to prepare its statement of cash flows.Refer to the following information reported for 2019: 1.Sales Revenue,$520,000
2) Accounts Receivable,beginning balance,$99,000
3) Accounts Receivable,ending balance,$62,000
Compute the collections from customers.

• A) $557,000
• B) $458,000
• C) $161,000
• D) $359,000

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Definitions:

High Achievers

Individuals who consistently perform at a high level and achieve significant success in their field or activities.

Group Project

A collaborative assignment or task undertaken by a group of individuals aimed at achieving a specific goal or outcome through collective effort.

Slackers

Individuals who avoid work or exert minimal effort in their responsibilities.

Marginal Cost

Marginal cost is the cost of producing one additional unit of a good or service, which includes all variable costs associated with its production.