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Exercise 12-11 Cullumber Company completed its first year of operations on December 31, 2017. Its initial income statement showed that Cullumber Company had sales revenue
Exercise 12-11 Cullumber Company completed its first year of operations on December 31, 2017. Its initial income statement showed that Cullumber Company had sales revenue of $526,284 and expenses of $220,614. Accounts receivable and accounts payable at year-end were $159,480 and $61,134, respectively. Assume that accounts payable related to taxes. operating expenses. Ignore income Compute net cash provided (used) by operating activity using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in Net cash provided (used) by operating activity s Click if you would like to Show Work for this question: Open Show Work
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