Aboard Company Began the Current Year with the Following

question 61

Multiple Choice

Aboard Company began the current year with the following: During the current year,the following events occurred:
At the end of the current year,Aboard showed a balance in gross accounts receivable (before the allowance for doubtful accounts) of $16,800.
What amount would be shown as an operating cash inflow in the statement of cash flows under the indirect method?

• A) $21,000
• B) $22,000
• C) $30,000
• D) $28,200

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Definitions:

Journal Entry

A record in accounting that represents a transaction and shows the accounts affected and the amounts.

Sale

A transaction between two parties where the buyer receives goods, services, or assets in exchange for money or other forms of compensation.

Issuing Bonds

The process of a borrower offering bonds to investors as a form of debt securities to raise capital.