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29 Avondale Inc. had the following cash transactions during 2018: Sales receipts $2,000,000 Inventory payments 1,500,000 Interest payments 20,000 Wage payments 120,000 Dividend receipts 10,000

29

Avondale Inc. had the following cash transactions during 2018:

Sales receipts

$2,000,000

Inventory payments

1,500,000

Interest payments

20,000

Wage payments

120,000

Dividend receipts

10,000

Interest receipts

6,000

Equipment purchased

150,000

Stock of Canton Company purchased

50,000

Stock issued

300,000

Repaid a note (non-operating)

100,000

What was Avondale's net cash provided by (used in) financing activities?

a. $300,000

b. $150,000

c. $200,000

d. $100,000

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