Cash flows assuming that the direct method is used

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Reference no: EM13944501

Cash Collections—Direct Method

Oakmont Inc. reported accounts receivable of $28,000 on its December 31, 2013, balance sheet. On December 31, 2014, accounts receivable had decreased to $15,500. Sales for the year amounted to $68,500.

What is the amount of cash collections that Oakmont will report in the Operating Activities section of its 2014 statement of cash flows assuming that the direct method is used?

Reference no: EM13944501

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