Use the Direct Method of Cash Flows to Answer the Following

question 96

Short Answer

Use the direct method of cash flows to answer the following question:
Compute the cash receivables received from customers during the year.

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Definitions:

Financial Accounting Standards Board

An independent, private-sector body that establishes and interprets Generally Accepted Accounting Principles (GAAP) in the United States.

IRS

The IRS (Internal Revenue Service) is the United States federal agency responsible for collecting taxes and administering the Internal Revenue Code.

SEC

The Securities and Exchange Commission (SEC) is a U.S. government agency that oversees securities transactions, activities of financial professionals and mutual fund trading to prevent fraud and intentional deception.

AICPA

The American Institute of Certified Public Accountants, a professional organization for Certified Public Accountants (CPAs) in the United States.