Cash collections—direct method

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Reference no: EM13944500

Cash Collections—Direct Method

Pace Industries comparative balance sheets included accounts receivable of $80,800 at December 31, 2013, and $110,300 at December 31, 2014. Sales reported by Pace on its 2014 income statement amounted to $1,588,500.

What is the amount of cash collections that Pace will report in the Operating Activities section of its 2014 statement of cash flows assuming that the direct method is used?

Reference no: EM13944500

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