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Parmesan Company Uses the Direct Method for Its Statement of Cash

Question 14

Multiple Choice

Parmesan Company uses the direct method for its statement of cash flow. It reports the following information regarding the year 2014: From the income statement:
Sales Revenues, $265,000
Cost of Goods Sold, $210,000
Operating expenses, $31,000
From the balance sheet: Parmesan Company uses the direct method for its statement of cash flow. It reports the following information regarding the year 2014: From the income statement: Sales Revenues, $265,000 Cost of Goods Sold, $210,000 Operating expenses, $31,000 From the balance sheet: On the statement of cash flows, what amount will be shown for collections from customers? A) $261,700 B) $268,300 C) $265,000 D) $32,300 On the statement of cash flows, what amount will be shown for collections from customers?


A) $261,700
B) $268,300
C) $265,000
D) $32,300

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