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How much cash did the company collect from customers

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Question 1 - Assume Cramer uses the direct method to prepare the statement of cash flows. Credit sales totaled $780,000, accounts receivable increased by $30,000, and accounts payable decreased by $25,000. How much cash did the company collect from customers?

A. $750,000

B. $775,000

C. $810,000

D. $780,000

Question 2 - Assume Cramer uses the direct method to prepare the statement of cash flows. Income tax payable was $ 6 comma 000$6,000 at the end of the year and $2,600 at the beginning. Income tax expense for the year totaled $59,800. What amount of cash did the company pay for income tax during the year?

A. $59,800

B. $63,200

C. $62,400

D. $56,400

Reference no: EM131761333

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