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Hong Kong Clothiers reported revenue of $5,000,000 for its year ended December 31, 2011. Accounts...

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Accounting

Hong Kong Clothiers reported revenue of $5,000,000 for its year ended December 31, 2011. Accounts

receivable at December 31, 2010 and 2011, were $320,000 and $355,000, respectively. Using the direct

method for reporting cash flows from operating activities, Hong Kong Clothiers would report cash collected

from customers of

A. $5,035,000.

B. $5,000,000.

C. $5,045,000.

D. $4,965,000.

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