Exercise 12-7 Cash Collections—Direct Method Stanley Company’s comparative balance sheets…


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Exercise 12-7 Cash Collections—Direct Method Stanley Company’s comparative balance sheets… 1 answer below » Exercise 12-7 Cash Collections—Direct Method Stanley Company’s comparative balance sheets included accounts receivable of $80,800 at De- cember 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? Jan 29 2016 12:14 PM

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