The comparative balance sheets for JayCee Company showed the following changes in current asset accounts: accounts receivable

Question:

The comparative balance sheets for JayCee Company showed the following changes in current asset accounts: accounts receivable decreased by $50,000, prepaid expenses decreased by $23,000, and merchandise inventory increased by $17,000. These were all the changes in the current assets and current liability accounts (except cash). Net income for the year was $275,500. Compute net cash provided by or used by operating activities using the indirect method.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...