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Universal Company reported revenue in its income statement for the year of $700,000. The beginning and ending balances of accounts receivable, gross were $70,000 and
Universal Company reported revenue in its income statement for the year of $700,000. The beginning and ending balances of accounts receivable, gross were $70,000 and $84,000, respectively. What amount would be reported as cash receipts from customers in the operating activities section of the statement of cash flows using the direct method?
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