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the Question are based on the data shown below related to statement of cash flows for Putnam, Inc. What amount of cash was collected from

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the Question are based on the data shown below related to statement of cash flows for Putnam, Inc. What amount of cash was collected from 2015 accounts receivable? Putnam, Inc. Comparative Balance Sheets Assets: Current Assets: Cash Accounts Receivable (net) Inventory Prepaid Expenses $1,380,000 $1,080,000 3,120,000 2,160,000 3,900,000 2,520,000 792.00030.0 6,390,000 Total Current Assets 9,102,000 Long-Term Investments Plant Assets: 450,000 Property, Plant & Equipment 4,380,000 2,880,000 Total Plant Assets Total Assets Equities: Current Liabilities: Accunt tivabl $2.ss0,000 $2.550,000 $2,190,000 564,000 Accrued Expenses Dividends Payable 618,000 Total Current Liablities 3,570,0002.754,000 Long Term Notes Payable Stockholders' Equity: 1,650,000 Common Stock Retained Earnings 6,000,000 4,800,000 1812.002 1.176,000 1303.000 $8730,000 Total Equities Putnam, Inc. Comparative Income Statements Net Credit Sales Cost of Goods Sold Gross Profit $14.040.000 6,000 3,762,000 6,210,000 3,744,000 Operating Expenses (including Income Tas) Net Income Additional Information: a. Accounts recevable and accounts payable relate to merchandise held for sale in the normal course of business. The allow ance for bad debts was the same at the end of 2015 and 2014, and no receivables were charged against the alowance. Accounts payable are recorded net of any discount and are always paid within the discount penod b. The proceeds from the note payable were used to finance the acquisition of property, plant, and equipment. Capital stock was sold to provide additional

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