Tropical Tours reported revenue of $400,000 for its year ended December 31, 2018. Accounts receivable at December 31, 2017 and 2018, were $35,000 and $32,000, respectively. Using the direct method for reporting cash flows from operating activities, Tropical Tours would report cash collected from customers of:
A) $400,000.
B) $397,000.
C) $403,000.
D) $365,000.
Correct Answer:
Verified
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