The Following Items Were Reported by Morris Plumbing Company What Amount Would Be Reported in the Operating Activities Section

question 148

Multiple Choice

The following items were reported by Morris Plumbing Company:
$\begin{array} { l } \text { Accounts receivable, December 31, 2014 } &\$ 250,000 \\\text { Accounts receivable, December 31, 2013 } &225,000 \\\text { Sales for 2014 } &1,000,000\end{array}$
What amount would be reported in the operating activities section of the statement of cash flows for Collections from Customers under the direct method,assuming that all sales are on credit?

• A)$975,000
• B)$1,025,000
• C)$1,225,000
• D)$1,250,000

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