The accounting records of Vinyl Sales, Inc. include the following accounts: 

Compute Vinyl Sales, Inc.’s net cash provided by (used for) operating activities during July 2025. Use the indirect method.

Transcribed Image Text:

Account Cash Accounts Receivable Merchandise Inventory Accounts Payable Accumulated Depreciation- Equipment Beginning Balance $ 5,500 21,000 22,000 14,500 55,000 Jul. 1 3,000 Depr. Exp. 58,000 Jul. 31 Ending Balance $ 3,000 17,000 25,500 19,500 Retained Earnings 65,000 Dividends 19,000 65,000 111,000 Jul. 1 Net Inc. Jul. 31