Crane Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2021, Crane Company reports the following activity: Sales on account Cash sales Decrease in accounts receivable Increase in accounts payable Increase in inventory Cost of good sold $2000000 O $4010000 O $2910000 O $2190000 O $3100000 1100000 910000 105000 70000 1570000 What is the amount of cash collections from customers reported by Crane Company for the year ended December 31, 2021?

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Crane Company prepares its statement of cash flows using the direct method for operating activities. For the year ended
December 31, 2021, Crane Company reports the following activity:
Sales on account
Cash sales
Decrease in accounts receivable
Increase in accounts payable
Increase in inventory
Cost of good sold
$2000000
$4010000
$2910000
O $2190000
O $3100000
1100000
910000
105000
70000
1570000
What is the amount of cash collections from customers reported by Crane Company for the year ended December 31, 2021?
Transcribed Image Text:Crane Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2021, Crane Company reports the following activity: Sales on account Cash sales Decrease in accounts receivable Increase in accounts payable Increase in inventory Cost of good sold $2000000 $4010000 $2910000 O $2190000 O $3100000 1100000 910000 105000 70000 1570000 What is the amount of cash collections from customers reported by Crane Company for the year ended December 31, 2021?
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