Selected accounts of Printing Networks, Inc., show the following:

Requirement
1. For each account, identify the item or items that should appear on a statement of cash flows prepared by the direct method. Also state each item€™s amount and where to report theitem.

Transcribed Image Text:

Accounts receivable Beginning balance Service revenue 9,100 40,000 Cash collections 38,000 Ending balance 11,100 Land Beginning balance Acquisition 87,000 14,000 Ending balance 101,000 Long-term notes payable Beginning balance 73,000 Issuance for cash 274,000 84,000 Payments Ending balance 285,000