Calculate and identify cash flow. (LO 1, 3, 4) During 2007, Cameron Company had ($ 300,000) in
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Calculate and identify cash flow. (LO 1, 3, 4)
During 2007, Cameron Company had \(\$ 300,000\) in cash sales and \(\$ 3,500,000\) in credit sales. The accounts receivable balances were \(\$ 450,000\) and \(\$ 530,000\) at December 31,2006 and 2007 , respectively. What was the total cash collected from all customers during 2007? How would the cash from this transaction be classified on the statement of cash flows?
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