Wister Corporation Had Net Sales of $462,000 for the Just

question 24

Multiple Choice

Wister Corporation had net sales of $462,000 for the just completed year. Shown below are the beginning and ending balances of various Wister accounts: Wister prepares its statement of cash flows using the direct method. On its statement of cash flows, what amount should Wister show for its net sales adjusted to a cash basis (i.e., cash received from sales) ?

• A)$488,000
• B)$436,000
• C)$462,000
• D)$445,000

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Definitions:

Accounts Receivable Turnover

A financial ratio indicating how many times a company's receivables are turned over during a period.

Average Sale Period

The average amount of time it takes for a business to sell its inventory, also known as inventory turnover period.

Maraby Corporation

A hypothetical or specific corporation named Maraby, details about it would depend on the context provided.

Year 2

Not a key term requiring a definition in the context provided.