Menu QUESTION 10 Not complete Points out of 1.c0 Rag question Operating Cash Flo

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Menu QUESTION 10 Not complete Points out of 1.c0 Rag question Operating Cash Flows (Direct Method) The Howell Company's current year income statement contains the following data: Sales revenue $925,000 Cost of goods sold 3$1,.000 Gross profit $374,000 16 Howell's comparative balance sheets show the following data (accounts payable relate to merchandise purchases 21 End of Beginning of Year 31 Accounts receivable $71,000$60,000 Inventory Prepaid expenses3,000 Accounts payable 31,000 37,000 09,00096,000 8,000 Compute Howell's current-year cash received from customers and cash paid for merchandise purchased Cash recelved from customers Cash paid fer merchandse purchaed Check

Explanation / Answer

Cash received from customers

Cash paid to vendors

Particulars Amt Opening Receivables 60000 Add: Sales 925000 Less: Closing Receivables 71000 Cash Received 914000

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