Accounts Receivable Resulting from Sales to Customers Amounted to $40,000

question 54

Multiple Choice

Accounts receivable resulting from sales to customers amounted to $40,000 and $31,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $120,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is

• A) $120,000.
• B) $129,000.
• C) $151,000.
• D) $111,000.

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