Hong Kong Clothiers reported revenue of $5,000,000 for its year ended December 31, 2011. Accounts...
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Accounting
Hong Kong Clothiers reported revenue of $5,000,000 for its year ended December 31, 2011. Accounts
receivable at December 31, 2010 and 2011, were $320,000 and $355,000, respectively. Using the direct
method for reporting cash flows from operating activities, Hong Kong Clothiers would report cash collected
from customers of
A. $5,035,000.
B. $5,000,000.
C. $5,045,000.
D. $4,965,000.
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