Question

On January 1, Year 2 Grande Company had a $13,000 balance in the Accounts Receivable account and a zero balance in the Allowance for Doubtful Accounts account. During Year 2, Grande provided $62,000 of service on account. The company collected $58,500 cash from accounts receivable. Uncollectible accounts are estimated to be 2% of sales on account. What is the amount of cash flow from operating activities that would appear on the Year 2 statement of cash flows? Multiple Choice $58,500 $62,000 $49,360 $57,330

          On January 1, Year 2 Grande Company had a $13,000 balance in the Accounts Receivable account and a zero balance in the Allowance for Doubtful Accounts account. During Year 2,
Grande provided $62,000 of service on account. The company collected $58,500 cash from accounts receivable. Uncollectible accounts are estimated to be 2% of sales on account.
What is the amount of cash flow from operating activities that would appear on the Year 2 statement of cash flows?
Multiple Choice
$58,500
$62,000
$49,360
$57,330

On January 1, Year 2 Grande Company had a 13,000 balance in the Accounts Receivable account and a zero balance in the Allowance for Doubtful Accounts account. During Year 2,
Grande provided62,000 of service on account. The company collected 58,500 cash from accounts receivable. Uncollectible accounts are estimated to be 2% of sales on account.
What is the amount of cash flow from operating activities that would appear on the Year 2 statement of cash flows?
Multiple Choice58,500
62,00049,360
57,330

Added by Melanie W.

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