Solution-The ending balance of accounts receivable

The ending balance of accounts receivable

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Reference no: EM13919692

Panoramic Inc. had a beginning balance of $2,000 in its Accounts Receivable account. The ending balance of Accounts Receivable was $2,400. During the period, Panoramic recognized $40,000 of revenue on account. Panoramic's Salaries Payable account has a beginning balance of $1,300 and an ending balance of $900. During the period, the company recognized $35,000 of accrued salaries expense.

Required:

a. Based on the information provided, determine the amount of net income.
b. Based on the information proded, determine the amount of net cash flow from operating activities.

Reference no: EM13919692

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The ending balance of accounts receivable

Reference no: EM13919692

Reference no: EM13919692

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