The following selected account balances appeared on the financial statements of Sanchez Company: Accounts Receivable, January...

 

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The following selected account balances appeared on the financial statements of Sanchez Company: Accounts Receivable, January 1 Accounts Receivable, December 31 Accounts Payable, January 1 Accounts Payable, December 31 Inventory, January 1 Inventory, December 31 Sales Cost of Goods Sold $12,000 9,000 4,000 7,000 10,000 15,000 57,000 31,000 Sanchez Company uses the direct method to compute net cash flows from operating activities. Cash received from customers is The following selected account balances appeared on the financial statements of Sanchez Company: Accounts Receivable, January 1 Accounts Receivable, December 31 Accounts Payable, January 1 Accounts Payable, December 31 Inventory, January 1 Inventory, December 31 Sales Cost of Goods Sold $12,000 9,000 4,000 7,000 10,000 15,000 57,000 31,000 Sanchez Company uses the direct method to compute net cash flows from operating activities. Cash received from customers is

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Accounts Receivable decreased from 12000 to 9000 so collections from c... View the full answer