Question: Blossom Corp. uses the direct method to prepare its statement of cash flows. Blossom's trial balances at December 3 1 , 2 0 2 5

Blossom Corp. uses the direct method to prepare its statement of cash flows. Blossom's trial balances at December 31,2025 and 2024, are as follows.
\table[[December 31],[Debits,2025,2024],[Cash,$35.400,$31,700],[Accounts receivable,32,900,29,900],[Inventory,30,700,47,300],[Property, plant, and equipment,100,500,95,500],[Unamortized bond discount,4,500,5,000],[Cost of goods sold,250,800,379,500],[Selling expenses,142,600,173,300],[General and administrative expenses,138,300,151,000],[Interest expense,4,200,2,600],[Income tax expense,20,300,61,000],[,$760,200,$976,800]]Question 3 of 3
7
\table[[Credits],[Allowance for doubtful accounts,$1,300,$1.100],[Accumulated depreciation-plant assets,16,300,14,800],[Accounts payable,25,300,15,600],[Income taxes payable,20,900,28.800],[Deferred tax liability,5,300,4,600],[8% callable bonds payable,45,000,20,000],[Common stock,50,000,40,000],[Paid-in capital in excess of par,9.000,7,500],[Retained earnings,44,400.,65,100],[Sales revenue,542,700,779,300],[,$760,200,$976.800]]
Additional information:
Blossom purchased $5,000 in equipment during 2025.
Blossom allocated one-third of its depreciation expense to selling expenses and the remulinder to general and administrative expenses.Blossom allocated one-third of its depreciation expense to selling expenses and the remainder to general and administrative expenses.
Bad debt expense for 2025 was $4,900, and write-offs of uncollectible accounts totaled $4,700.
Determine what amounts Blossom should report in its statement of cash flows for the year ended December 31,2025, for the following items.
a. Cash collected from customers. $
b. Cash paid to suppliers.
$
c. Cash paid for interest.
$
d. Cash paid for income taxes.
$
e. Cash paid for selling expenses. $
eTextbook and Media
Attempts: 0 of 5 used
Blossom Corp. uses the direct method to prepare

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!