Business, 25.06.2019 21:40 wweghorst8275
The following selected account balances appeared on the financial statements of the franklin company. use these balances to answer the question that follow. accounts receivable, jan. 1 $16,718 accounts receivable, dec. 31 8,513 accounts payable, jan. 1 5,170 accounts payable, dec. 31 9,627 inventory, jan. 1 8,465 inventory, dec. 31 14,817 sales 71,398 cost of goods sold 36,351 the franklin company uses the direct method to calculate net cash flow from operating activities. assume that all accounts payable are owed to merchandise suppliers. determine the cash collections from customers.
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The following selected account balances appeared on the financial statements of the franklin company...
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