The following selected account balances appeared on the financial statements of Washington Company: Accounts Receivable, January 1 $16,099
Accounts Receivable, December 31 7,237
Accounts Payable, January 1 5,873
Accounts Payable, December 31 8,939
Merchandise Inventory, January 1 6,941
Merchandise Inventory, December 31 14,492
Sales 76,821
Cost of Merchandise Sold 36,852

Washington Company uses the direct method to calculate net cash flow from operating activities. Cash collections from customers were:

The net Cash collections from customers were $85683.

Explanation:

The direct method for calculating net cash flow involves deducting from cash sales only operating expenses that needed cash.

Cash collections from customers by Washington company are:

Accounts Receivable, January 1 + Sales - Accounts Receivable, December 31

=$16,099 + $76,821 - $7,237

=$92,920-$7,237

=$85683

The net Cash collections from customers were $85683.

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi