Accounts receivable arising from sales to customers amounted to $40,000 and $32,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $110,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is (Points: 4)
- $118,000.
- $110,000.
- $102,000.
- $150,000.
Credit memos from the bank .decrease a bank customer's account are used to show a bank service charge
- show that a company has deposited a customer's NSF check
- show the bank has collected a note receivable for the customer.