Question

Eastwood Enterprises offers horseback riding lessons. During the month of June, the company provides lessons on account totaling $5,100. By the end of the month, the company received on account $4,500 of this amount. In addition, Eastwood received $500 on account from customers who were provided lessons in May. Determine the amount of operating cash flows Eastwood will report as received from customers in June.

Answer 1

$5,000

Step-by-step explanation:

Calculation to Determine the amount of operating cash flows Eastwood will report as received from customers in June.

Using this formula

Operating cash flows=Receipts for lessons in June+Receipts for lessons in May

Let plug in the formula

Operating cash flows=$4,500+$500

Operating cash flows=$5,000

Therefore the amount of operating cash flows Eastwood will report as received from customers in June is $5,000