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Sheridan Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2018, Sheridan Company reports
Sheridan Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2018, Sheridan Company reports the following activity:
Sales on account $2110000
Cash sales 1120000
Decrease in accounts receivable 916000
Increase in accounts payable 111000
Increase in inventory 79000
Cost of good sold 1571000
What is the amount of cash collections from customers reported by Sheridan Company for the year ended December 31, 2018?
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