Hong Kong Clothiers Reported Revenue of $5,000,000 for Its Year

question 90

Multiple Choice

Hong Kong Clothiers reported revenue of $5,000,000 for its year ended December 31, 2009. Accounts receivable at December 31, 2008 and 2009, were $320,000 and $355,000, respectively. Using the direct method for reporting cash flows from operating activities, Hong Kong Clothiers would report cash collected from customers of:

• A)$4,965,000.
• B)$5,000,000.
• C)$5,035,000.
• D)$5,045,000.Cash collections = $320,000 + 5,000,000 355,000 = $4,965,000

---

Definitions:

Glucose Tolerance Test

A test that measures the body's ability to metabolize glucose and is used to diagnose conditions like diabetes and insulin resistance.

Blood Is Drawn

A medical procedure where a small amount of blood is taken from a person's body, usually for testing purposes.

Group B Streptococcus

A type of bacterial infection that can be found in the digestive, reproductive, and urinary tracts of adults and can be serious for newborns.

Rectum

The lower part of the large intestine between the sigmoid and the anal canal.