At the end of 2016, the BCD Company had accounts receivable of $45,000. At the end...
At the end of 2016, the BCD Company had accounts receivable of $45,000. At the end of 2015, it had accounts receivable of $40,000. How should this difference be recorded?
A. a $5,000 cash outflow on the 2016 Statement of Cash Flows
B. a $5,000 cash inflow on the 2016 Statement of Cash Flows
C. income on the 2016 Income Statement
Homework Answers
Increase in current assets will record as cash outflow on the statement of cash flows.
So answer will be: A. a $5,000 cash outflow on the 2016 Statement of Cash Flows
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