Koch Inc. began the accounting period with a ($ 75,000) debit balance in its Accounts Receivable account.
Question:
Koch Inc. began the accounting period with a \(\$ 75,000\) 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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