Stanley Companys comparative balance sheets included accounts receivable of $80,800 at December 31, 2013, and $101,100 at

Question:

Stanley Company’s comparative balance sheets included accounts receivable of $80,800 at December 31, 2013, and $101,100 at December 31, 2014. Sales reported by Stanley on its 2014 income statement amounted to $1,450,000. What is the amount of cash collections that Stanley will report in the Operating Activities section of its 2014 statement of cash flows assuming that the direct method is used?

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...

Fantastic news! We've Found the answer you've been seeking!