After adjusting entries, the balance sheets of Tukan Company showed the following asset and liability amounts at

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After adjusting entries, the balance sheets of Tukan Company showed the following asset and liability amounts at the end of 2011 and 2010:

The following amounts were taken from the 2011 income statement:

Insurance expense …………………..          $1,900

Wages expense ………………….......             9,750

Fees earned …………………............              4,450

Calculate the amount of cash paid for insurance and wages and the amount of cash received for fees during 2011.

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Financial Accounting

ISBN: 978-0538476010

11th edition

Authors: Belverd E. Needles, Marian Powers

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