The balance in Accounts Receivable at the beginning of the year amounted to $16,000. During the year, $64,000 of credit sales were made to customers. If the ending balance in Accounts Receivable amounted to $10,000, and uncollectible accounts expense amounted to $4,000, what is the amount of cash inflow from customers that would appear in the operating activities section of the cash flow statement

Question

Elvis Rogers

Business

3 February, 15:41

The balance in Accounts Receivable at the beginning of the year amounted to $16,000. During the year, $64,000 of credit sales were made to customers. If the ending balance in Accounts Receivable amounted to $10,000, and uncollectible accounts expense amounted to $4,000, what is the amount of cash inflow from customers that would appear in the operating activities section of the cash flow statement

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Itzel Vincent · Answer 1

Answer: $70,000

Explanation:

Accounts Receivable at the beginning of the year amounted to $16,000

During the year, $64,000 of credit sales were made to customers.

ending balance in Accounts Receivable amounted to $10,000, and uncollectible accounts expense amounted to $4,000,

The Amount to appear in the operating activities section of the cash flow statement is

$16,000+$64,000-$10,000 = $70,000