For each of the following transactions, indicate whether operating (O), investing (I), or financing activities (F) are
Question:
_______ 1. Received deposits from customers for products to be delivered the following period.
_______ 2. Principal repayments on loan.
_______ 3. Paid cash to purchase new equipment.
_______ 4. Received proceeds from loan.
_______ 5. Collected payments on account from customers.
_______ 6. Recorded and paid salaries to employees.
_______ 7. Paid cash for building construction.
_______ 8. Recorded and paid interest to debt holders.
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Related Book For
Managerial Accounting
ISBN: 978-0078025518
2nd edition
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
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