Calculate and identify cash flows. (LO 1, 3, 4) Col Corporation reported credit sales of ($ 150,000)
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Calculate and identify cash flows. (LO 1, 3, 4)
Col Corporation reported credit sales of \(\$ 150,000\) for 2006. Col's accounts receivable from sales were \(\$ 25,000\) at the beginning of 2006 and \(\$ 38,000\) at the end of 2006 . What was the amount of cash collected from sales in 2006? How would the cash from this transaction be classified on the statement of cash flows?
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