Monty Company prepares its statement of cash flows using the direct method for operating activities. For...

 

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Monty Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2022, Monty Company reports the following activity: Sales on account Cash sales Decrease in accounts receivable Increase in accounts payable Increase in inventory Cost of goods sold Accounts receivable written off $1,400,000 740,000 610,000 72,000 48,000 1,050,000 50,000 What is the amount of cash collections from customers reported by Monty Company for the year ended December 31, 2022? What is the amount of cash payments to inventory suppliers reported by Monty Company for the year ended December 31, 2022? Monty Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2022, Monty Company reports the following activity: Sales on account Cash sales Decrease in accounts receivable Increase in accounts payable Increase in inventory Cost of goods sold Accounts receivable written off $1,400,000 740,000 610,000 72,000 48,000 1,050,000 50,000 What is the amount of cash collections from customers reported by Monty Company for the year ended December 31, 2022? What is the amount of cash payments to inventory suppliers reported by Monty Company for the year ended December 31, 2022?

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