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Question(s) / Instruction(s):

Accounts receivable arising from sales to customers amounted to $80,000 and $100,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $1,000,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is

a)            $20,000                                                

b)            $1,020,000

c)            $1,000,000                                          

d)            $980,000                                             

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