Financial accounting question Direct Method Sales reported on the income statementwere $710,000. The accounts receivable balance increased$77,000 over the year. Determine the amount of cashreceived from customers.

Step 1: Define Cash Flow StatementCash flow statement refers to one of the financial statements…

Answered: Direct Method Sales reported on the…

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter6: Statement Of Cash Flows

Section: Chapter Questions

Problem 14E

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Direct Method Sales reported on the income statement were $710,000. The accounts receivable balance increased $77,000 over the year. Determine the amount of cash received from customers.