11. A company purchases $10,000 in inventory that will be paid for in 60 days. Which of the following best describes the journal entry to record this transaction? Debit cash $10,000; credit inventory $10,000 Debit inventory $10,000; credit cash $10,000 Debit accounts payable $10,000; credit inventory $10,000 Debit inventory $10,000; credit accounts payable $10,000 The following question is based on the cash T-account for XYZ Industries as of December 31,2019. What is XYZ's 2019 cash flow from operations? A net outflow of $20 million 13. On January 1,2017,ABC purchased DEF Industries for $150 million. At the time of purchase, DEF's book value was measured at $100 million. On December 31, 2018, ABC recognized a $50 million impairment for the purchase. How would ABC's asset side of the balance sheet be impacted? Fixed Assets would be debited $50 million. Fixed Assets would be credited $50 million. Goodwill would be debited $50 million. Goodwill would be credited $50 million. 14. Quogue Sporting Goods purchased a new screen-printing machine for $50,000. It cost $1,000 to deliver the machine and $5,000 to install it. What amount should Quogue record as the cost of the machine? $50,000$51,000$55,000$56,000