In its accrual basis income statement for the year ended December 31,2014,Braxton Company reported revenue of $3,500,000.Additional information is as follows:

Nelson should report cash collected from customers in its 2014 statement of cash flows (direct method)in the amount of
A)$3,760,000.
B)$3,380,000.
C)$3,100,000.
D)$3,140,000.

Question

In its accrual basis income statement for the year ended December 31,2014,Braxton Company reported revenue of $3,500,000.Additional information is as follows:

Nelson should report cash collected from customers in its 2014 statement of cash flows (direct method)in the amount of
A)$3,760,000. 
B)$3,380,000. 
C)$3,100,000. 
D)$3,140,000.

Quizplus · Accepted Answer

The Answer of In its accrual basis income statement for the year ended December 31,2014,Braxton Company reported revenue of $3,500,000.Additional information is as follows:

Nelson should report cash collected from customers in its 2014 statement of cash flows (direct method)in the amount of
A)$3,760,000. 
B)$3,380,000. 
C)$3,100,000. 
D)$3,140,000.

In Its Accrual Basis Income Statement for the Year Ended