Given the following cash transactions, classify each as a cash flow from (1) Operating activities, (2) Investing

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Given the following cash transactions, classify each as a cash flow from

(1) Operating activities,

(2) Investing activities,

(3) Financing activities.

a. Principal payment to the bank for a loan

b. Collection from customers to whom sales were previously made on account

c. Collection from customers for cash sales

d. Collection for sale of land that had been purchased as a possible factory site

e. Petty cash used to pay for doughnuts for staff

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Financial Accounting: A Business Process Approach

ISBN: 978-0136115274

3rd edition

Authors: Jane L. Reimers

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Question Posted: Sep 01, 2014 01:00 PM

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Given the following cash transactions, classify each as a cash flow from (1) Operating activities, (2) Investing

Question:

Step by Step Answer:

a 3 Financing activities b ...View the full answer

Financial Accounting: A Business Process Approach

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