On January 1, Year 2, Grande Company had a $69,600 balance in the Accounts Recer

Question

On January 1, Year 2, Grande Company had a $69,600 balance in the Accounts Recervable account and a $2,600 balance in the Allowance 4 Year 2, Grande provided $183,000 of service on account. The company collected $215,500 cash from accounts receivable. Uncollectible accounts are estimated to be 1% or sales on account the Year 2 statement of cash flows is: Based on this information, the amount of cash flow from operating activities that would appear on points 2 Multiple Choice $2.780 $215,500 $35.450

Explanation / Answer

Answer

Answer is $215,500

(consider only cash inflow)

Cash flows from operating activities is a section of the cash flow statement that explains the sources and uses of cash from ongoing regular business activities in a given period. The cash flows from operating activities section typically includes net income from the income statement, adjustments to net income and changes in working capital.

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