Question: Mid-Town Auto Parts Company uses the direct method to prepare its statement of cash flows. Refer to the following information reported for 2019: Sales Revenue,
Mid-Town Auto Parts Company uses the direct method to prepare its statement of cash flows. Refer to the following information reported for 2019: Sales Revenue, $520,000; Accounts Receivable, beginning balance, $99,000 ; Accounts Receivable, ending balance, $62,000. How much cash is collected from customers? A) $557,000 B) $458,000 C) $161,000 D) $359,000
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