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vnaust vnaust
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7 months ago
Patterson Company's has provided the following financial information for last year.

Sales$230,000
Cost of goods sold160,000
Operating expenses (includes $3,000 depreciation)46,000
Accounts receivable beginning/ending balances$25,000 and $20,000
Inventory beginning/ending balances  29,000 and   25,000
Accounts payable beginning/ending balances27,000 and   20,000

Required:

Using the direct method, prepare the cash flows provided by operating activities section of the statement of cash flows.
Textbook 
Managerial Accounting

Managerial Accounting


Edition: 4th
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goodone14goodone14
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7 months ago
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More solutions for this book are available here
Collections from customers$235,000
Payments to suppliers(163,000)
Payments for operating expenses   (43,000)
Net cash provided by operating activities$  29,000


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