Question

Microchem Corporation reported a balance of €5,196 million in accounts receivable at the beginning of the year and €5,334 million at the end of the year. Its statement of cash flows using the direct method reported cash collections from customers of €33,551 million for the year. Assuming that Microchem Corporation makes all sales on account, compute the amount of sales during the year.



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  • CreatedMarch 04, 2014
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