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What is the cash receipts from customers under direct method

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Question - The Company's activities for the year ended December 31, 2018 included the following:

Income tax expense for the year was $30,000.

Sales for the year were $650,000.

Accounts payable decreased $10,000 in 2018.

Selling and administration expenses for the year totaled $200,000.

Accounts receivable increased $20,000 in 2018.

The Company's cost of goods sold in 2018 was $325,000.

The Company's inventory decreased $15,000 during the year.

Required - What is the cash receipts from customers under the direct method?

Reference no: EM133154602

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