What is the amount of cash collections, Accounting Basics

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What is the amount of cash collections

Spencer Corp. reported accounts receivable of $28,000 on its December 31, 2011, balance sheet. On December 31, 2012, accounts receivable had decreased to $16,000. Sales for the year amounted to $66,500.

What is the amount of cash collections that Spencer will report in the Operating Activities section of its 2012 statement of cash flows assuming that the direct method is used?

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Accounting Basics: What is the amount of cash collections

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Recent Questions Asked Accounting Basics

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What is the amount of cash collections

Reference No:- TGS0676403

Recent Questions Asked Accounting Basics

Q : Determine the annual cash operating costs

Q : The end of the period totaled

Q : Prepare a segmented income statement for the north region

Q : What amount should be shown for the equipment

Q : What is the amount of cash collections

Q : Salvage value at the end of its useful life

Q : Estimating the amount of a dividend

Q : Computing the number of unissued shares

Q : What were ahnberg''s basic and diluted earnings

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