Using a T-account to determine cash flow from operating activities
Koch Inc. began the accounting period with a 575,000 debit balance in its Accounts Receivable account. During the accounting period, Koch earned revenue on account of $320,000. The ending Accounts Receivable balance was $62,000.
Required
based on this information alone, determine the amount of cash inflow from operating activities during the accounting period. (Hint: Use a T-account for Accounts Receivable. Enter the debits and credits for the given events, and solve for the missing amount.)
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