Question: Transactions that affect net income do not necessarily affect cash. Identify the effect, if any, that each of the following transactions would have upon cash
Transactions that affect net income do not necessarily affect cash. Identify the effect, if any, that each of the following transactions
would have upon cash and net income. The first transaction has been completed as an example. If an amount reduces the account
balance then enter with negative sign preceding the number eg or parentheses eg
c Made sales of $ all on account.
d Received $ from customers in payment of their accounts.
e Purchased equipment for cash, $
f Recorded depreciation of building for period used, $
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