On January 1 Year 2 Grande Company had a $69.600 balance in the Accounts Recevab

Question

On January 1 Year 2 Grande Company had a $69.600 balance in the Accounts Recevable account and a $2.600 balance in the Alo Accounts account.During Year 2. Grande provided $183,000 of service on account, The company collected $215,500 cash tom accounts receivable uncollectble accounts are estimated to be 1% of sales on account l wance for Doubtful Based on this information, the amount of cash flow from operating activities that woulkd appear on the Year 2 statement of cash flows is Multple Choice 5215,500 $1830 $2.780 35 450

Explanation / Answer

Answer

Answer is $215,500

(consider only cash inflow) cash received from accounts receivable only $215,500

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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