Question: The cash flows from ( used for ) operating activities are reported by the direct method on the statement of cash flows. Determine the following:
The cash flows from used for operating activities are reported by the direct method on the statement of cash flows. Determine the following:
a If sales for the current year were $ and accounts receivable decreased by $ during the year, what was the amount of cash received from customers?
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b If income tax expense for the current year was $ and income tax payable decreased by $ during the year, what was the amount of cash paid for income taxes?
$fill in the blank
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