Rachel's Recordings reported net income of $280,000. Beginning balances in Accounts Receivable and Accounts Payable were $17,000 and $22,000 respectively. Ending balances in these accounts were $13,500 and $30,000, respectively. Assuming that all relevant information has been presented, Rachel's net cash flows from operating activities would be:

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
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Rachel's Recordings reported net income of $280,000. Beginning balances in Accounts Receivable and Accounts Payable were $17,000 and
$22,000 respectively. Ending balances in these accounts were $13,500 and $30,000, respectively. Assuming that all relevant information has been
presented, Rachel's net cash flows from operating activities would be:
Transcribed Image Text:Rachel's Recordings reported net income of $280,000. Beginning balances in Accounts Receivable and Accounts Payable were $17,000 and $22,000 respectively. Ending balances in these accounts were $13,500 and $30,000, respectively. Assuming that all relevant information has been presented, Rachel's net cash flows from operating activities would be:
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