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Cash Collections-Direct Method Emily Enterprises' comparative balance sheets included accounts receivable of $224,600 at December 31, 2009, and $205,700 at December 31, 2010. Sales reported on Emily's 2010 income statement amounted to $2,250,000.
What is the amount of cash collections that Emily will report in the Operating Activities category of its 2010 statement of cash flows assuming that the direct method is used?
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