Boisclair Corporation's accounts receivable decreased $130,000 between the end of 2021 and the end of 2022.If Boisclair uses a worksheet is to facilitate the preparation of the statement of cash flows.The entry in the reconciling columns of the worksheet would be

Question

Quizplus · Accepted Answer

The decrease in accounts receivable indicates that cash was collected, so it is recorded as an increase in cash flow from operating activities. The entry would be a debit to Operating- Decrease in Accounts Receivable and a credit to Accounts Receivable.

Boisclair Corporation's Accounts Receivable Decreased $130,000 Between the End of 2021