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Cash Flows from (Used for) Operating Activities-Direct Method The cash flows from (used for) operating activities are reported by the direct method on the

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Cash Flows from (Used for) Operating Activities-Direct Method The cash flows from (used for) operating activities are reported by the direct method on the statement of cash flows. Determine the following: a. If sales for the current year were $505,100 and accounts receivable decreased by $33,800 during the year, what was the amount of cash received from customers? b. If income tax expense for the current year was $36,700 and income tax payable decreased by $3,700 during the year, what was the amount of cash paid for income taxes? c. Briefly explain why the cash received from customers in part (a) is different from sales. Because the customers paid ( $33,800 during the current year. than the amount of sales for the period, cash received from customers sales made on account by

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