Statement of cash flows assuming that direct method is used

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Reference no: EM13943265

Spencer Corp. 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 $60,500.

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

Reference no: EM13943265

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Statement of cash flows assuming that direct method is used : Spencer Corp. 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 $60,500. What is the amount of cash collections that Spe..

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