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Determine the amount to be reported on the statement

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Question - Powers Corporation had accounts receivable of $120,000 at the beginning the year and $90,000 at the end of the year and accounts payable at the beginning of the year of $50,000 and $45,000 at the end of the year. Cash sales for the year were $350,000 and sales on account for the year amounted to $580,000. Determine the amount to be reported on the statement of cash flows for cash collections from customers under the direct method?

Reference no: EM133173306

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