Multiple Choice
The ending balance of accounts receivable was $75,000. Sales, adjusted to a cash basis using the direct method on the statement of cash flows, were $360,000. Sales reported on the income statement were $387,000. Based on this information, the beginning balance in accounts receivable was:
A) $102,000
B) $27,000
C) $103,000
D) $48,000
Correct Answer:
Verified
Correct Answer:
Verified
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