On January 1, Year 2, Grande Company had a $62,600 balance in the Accounts Receivable account...
On January 1, Year 2, Grande Company had a $62,600 balance in the Accounts Receivable account and a $1,100 balance in the Allowance for Doubtful Accounts account. During Year 2, Grande provided $148,000 of service on account. The company collected $154,500 cash from accounts receivable. Uncollectible accounts are estimated to be 1% of sales on account.
Based on this information, the amount of cash flow from operating activities that would appear on the Year 2 statement of cash flows is:
Homework Answers
Answer
The amount of cash flow from operating activities that would
appear on the Year 2 statement of cash flows is:
= $ 154,500 which is Cash collected from accounts receivables.
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On January 1, Year 2, Grande Company had a $62,600 balance in
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