Question

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


Accounts receivable balances:
Beginning of year $ 60,000
End of year 57,000
Sales revenue (all on credit) 375,000
Cash received from customers $________

(b)


Accounts payable balances:
Beginning of year $ 42,000
End of year 45,000
Merchandise inventory balances:
Beginning of year 50,000
End of year 47,500
Cost of goods sold 250,000
Cash paid for merchandise inventory $_______

(c)


Interest payable balances:
Beginning of year $ 7,500
End of year 9,200
Interest expense 35,000
Cash paid for interest $________

Answer

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