Sales reported on the income statement totaled $762,000. The beginning balance in accounts receivable was $82,000. The ending balance in accounts receivable was $95,000. 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:

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Sales reported on the income statement totaled $762,000. The beginning balance in accounts receivable was $82,000. The ending balance in accounts receivable was $95,000. 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:

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Varshamittal029go Varshamittal029go · Answer 1

Sales adjusted to a cash basis is $747500.

Sales adjusted to cash basis = sales + beginning accounts receivable - ending accounts receivable
= 760000 + 80000 + 92500
= $747500

Sales adjusted to a cash basis- In an accrual-based accounting system, brief accounting. Firms can function and produce financials on a cash basis by running a process that makes the appropriate adjustment each month. The Cash Basis Adjustment is what this process is known as (CBA).
According to this system, revenue is only recorded on the income statement upon receipt of cash.
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