Pastel Paints Company uses the direct method for preparing its statement of cash flow.Pastel reports the following information regarding 2017:
From the income statement:
Sales Revenues,$265,000
Cost of Goods Sold,$213,000
Operating Expenses,$32,000
From the balance sheet:

What amount will be shown for collections from customers?
A)$261,200
B)$268,800
C)$265,000
D)$33,000

Question

Pastel Paints Company uses the direct method for preparing its statement of cash flow.Pastel reports the following information regarding 2017:
From the income statement:
Sales Revenues,$265,000
Cost of Goods Sold,$213,000
Operating Expenses,$32,000
From the balance sheet:

What amount will be shown for collections from customers?
A)$261,200 
B)$268,800 
C)$265,000 
D)$33,000

Quizplus · Accepted Answer

A)
 11ea8a42_4f72_322c_8b44_45fb2a16fe5c_TB5024_00

Pastel Paints Company Uses the Direct Method for Preparing Its