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Brandon Company prepares the operating section of its statement of cash flows using the direct method. For the year ended December 31, 2021, Brandon Company

Brandon Company prepares the operating section of its statement of cash flows using the direct method. For the year ended December 31, 2021, Brandon Company reports the following activity:

Sales on account $2,100,000

Cash sales 1,110,000

Decrease in accounts receivable (gross amount) 915,000

Increase in Allowance for doubtful accounts 8,000

Increase in accounts payable 108,000

Increase in inventory 72,000

Cost of goods sold 1,575,000

Bad debt expense 15,000

Required:

  1. What is the amount of cash collections from customers reported by the Company for the year ended December 31, 2021?
  2. What is the amount of cash paid to the suppliers reported by the company for the year ended December 31, 2021?

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