collections from customers does not appear on a statement of cash flows prepared by the indirect method.
A business uses the term collections to refer to money owing to that business by a consumer. When a consumer fails to pay the company within the periods stated, the bill becomes past due and is sometimes turned over to a collection agency.
the act or activity of gathering; data collection; tax collection anything specially gathered: a collection of artifacts amassed for the purpose of study, comparison, or exhibition, or as a hobby a collection of poems a group of photographs a collection of baseball cards
A collection is defined as a gathering of goods or people grouped together. A collection could be anything like someone collecting 500 baseball cards.
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