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Cash CollectionsDirect Method Spencer Corp. reported accounts receivable of $28,000 on its December 31, 2016, balance sheet. On December 31, 2017, accounts receivable had decreased

Cash CollectionsDirect Method Spencer Corp. reported accounts receivable of $28,000 on its December 31, 2016, balance sheet. On December 31, 2017, accounts receivable had decreased to $22,000. Sales for the year amounted to $55,000. What is the amount ofcash collections that Spencer will report in the Oper-ating Activities section ofits 2017 statement ofcash flows assuming that the direct method is used?

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