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What the amount of cash for the payment of dividends

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Problem 1: Cash dividends of $85,000 declared during the year. Cash dividends payable were $10,000 at the beginning of the year and $15,000 at the end of the year. The amount of cash for the payment of dividends during the year is

a. $75,000

b. $80,000

c. $90,000

d. $95,000

Problem 2: Sales for the year were $600,000. Accounts receivable were $100,000 and $80,000 at the beginning and end of the year. Cash received from customers to be reported on the cash flow statement using the direct method is

a. $580,000

b. $600,000

c. $620,000

d. $700,000

Reference no: EM132807019

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