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Accounts receivable arising from sales to customers amounted to $ 156000 and $ 137000 at the...

Accounts receivable arising from sales to customers amounted to $ 156000 and $ 137000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $ 594000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is?

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Answer #1

Accounts receivable arising from sales to customers amounted to $ 156000 and $ 137000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $ 594000.

Note-

It is given that the accounts receivable arising from sales to customers amounted to at the beginning and end of the year, respectively. It means that the need for working capital investment is decreased due to decrease in accounts receivable. It is a cash inflow to the firm and so added with net income reported on income statement for the year to calculate net cash flow from operating activities.

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