Multiple Choice Question

During Year $1,$ Silver Sinks, Inc. earned $$33,000$ of revenue on account. Cash collections of receivables were $$28,000.$ The remainder of the receivables we collected in Year $2.$ As a result of these transactions, in Year $1$ Silver Sink will report

revenue of $$28,000$ and cash inflow from operating activities of $$33,000$

revenue and cash inflow from operating activities of $$28,000$

revenue of $$33,000$ and cash inflow from operating activities of $$28,000$

revenue and cash inflow from operating activities of $$33,000$

Need help? Review these concept resources.