Gelmont's consolidated trade receivables move from 2,300,000 to 2,950,000. A subsidiary acquired during the year brought 480,000 of receivables at the date control was obtained. Compute the change in receivables to use in operating cash flow (negative if it reduces the flow).
- Opening consolidated receivables
- 2,300,000
- Closing consolidated receivables
- 2,950,000
- Receivables brought by the subsidiary acquired
- 480,000