Sales reported on the income statement totaled $764,000. The beginning balance in accounts receivable was $84,000. The ending balance in accounts receivable was $97,500. Under the direct method of determining the net cash provided by (used in) operating activities on the statement of cash flows, sales adjusted to a cash basis are:
A. $861,500
B. $680,000
C. $750,500
D. $777,500
Answer: C
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