I'm confused. Is it $205,000 or $215,000? On December 31, 2014, Wellstone...
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I'm confused. Is it $205,000 or $215,000?
On December 31, 2014, Wellstone Company reported net income of $70,000 and sales of $210,000. The company also reported beginning and ending accounts receivable at $20,000 and $25,000, respectively. Wellstone will report cash collected from customers in its 2014 statement of cash flows (direct method) in the amount of: A. $135,000 B. $205,000 C. $215,000 D. $285,000
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