Question

For each of the following independent cases, use the information provided to calculate the missing cash inflow or cash outflow:
(a.)


Interest payable, beginning-year $ 4,200
Interest expense 26,700
Interest payable, year-end 3,000
Cash paid for interest $________

(b.)


Prepaid insurance, beginning of year $ 7,000
Insurance expense 16,800
Prepaid insurance, year-end 3,400
Cash paid for insurance $________

(c.)


Interest receivable, beginning of year $ 800
Interest revenue 12,600
Interest receivable, year-end 1,200
Cash received for interest $________

(d.)


Accounts payable, beginning of year $ 60,000
Cost of goods sold 244,000
Merchandise inventory, beginning of year 35,000
Merchandise inventory, year-end 40,500
Accounts payable, year-end 64,800
Cash paid for merchandise $_______

Answer

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