During 2014, Unruh Company had $160,000 in cash sales and $1,400,000 in credit sales. The accounts receivable balances were $180,000 and $212,000 at December 31, 2013 and 2014, respectively. Using the direct method of reporting cash flows from operating activities, what was the total cash collected from all customers during 2014?
A) $1,368,000
B) $1,592,000
C) $1,560,000
D) $1,528,000
Correct Answer:
Verified
Q141: The statement of cash flows is prepared
Q141: The information in a statement of cash
Q143: During 2014, Baxter Company sold a building
Q144: Cribbets Company uses the direct method in
Q145: When listing accounts in the statement of
Q146: Which of the following steps is not
Q146: Mover Company issued ordinary shares for proceeds
Q147: When a worksheet is used, all but
Q148: Bertucci Company had net income of $184,000
Q150: The information to prepare the statement of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents