Accounts receivable arising from sales to customers

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Accounts receivable arising from sales to customers amounted to $40,000 and $32,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $110,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is (Points: 4)

  • $118,000.
  • $110,000.
  • $102,000.
  • $150,000.

Credit memos from the bank .decrease a bank customer's account are used to show a bank service charge

  1. show that a company has deposited a customer's NSF check
  2. show the bank has collected a note receivable for the customer.

Reference no: EM13598624

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