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GrassoCorp.reportedaccountsreceivableof$38,000onitsDecember31,2016,balancesheet.OnDecember31, 2017,accountsreceivablehaddecreasedto$29,000.Salesfortheyearamountedto$57,000.Whatistheamountof cashcollectionsthatGrassowillreportintheOperatingActivitiessectionofits2017statementofcashflows assumingthatthedirectmethodisused?

GrassoCorp.reportedaccountsreceivableof$38,000onitsDecember31,2016,balancesheet.OnDecember31, 2017,accountsreceivablehaddecreasedto$29,000.Salesfortheyearamountedto$57,000.Whatistheamountof cashcollectionsthatGrassowillreportintheOperatingActivitiessectionofits2017statementofcashflows assumingthatthedirectmethodisused?

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