Delta Co. began the accounting period with a $116,000 debit balance in its Accounts Receivable account. During
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Delta Co. began the accounting period with a $116,000 debit balance in its Accounts Receivable account. During the accounting period, Delta Co. earned revenue on account of $152,000. The ending Accounts Receivable balance was $108,000.
Required
Based on this information alone, determine the amount of cash inflow from operating activities during the accounting period.
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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160000 of cash was collected 116000 ...View the full answer
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Related Book For 
Fundamental financial accounting concepts
ISBN: 978-0078025365
8th edition
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
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