Question - The following information was taken from the 2014 financial statement:
Accounts receivable, Jan 1 2014 ......$108,000
Accounts receivable, Dec 31 2014......$152,000
Sales on account......2,190,000
Uncollectible accounts.....5,000
No accounts receivable were written off or recovered during the year. If Company prepares a statement of cash flows using the direct method, what amount should be reported as collected from customers in 2014?