Tropical Tours reported revenue of $413,000 for its year ended December 31, 2018. Accounts receivable at December
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Question:
Tropical Tours reported revenue of $413,000 for its year ended December 31, 2018. Accounts receivable at December 31, 2017 and 2018, were $35,700 and $31,900, respectively. Using the direct method for reporting cash flows from operating activities, Tropical Tours would report cash collected from customers of:
A). $409,200
B). $413,000
C). $416,800
D). $448,700
Related Book For
Accounting Principles
ISBN: 978-1118342190
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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