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4. Apple orders $100M of iPhones to sell to customers, using cash on hand. Apple orders the inventory but it hasn't sold anything yet. How
4. Apple orders $100M of iPhones to sell to customers, using cash on hand. Apple orders the inventory but it hasn't sold anything yet. How does this transaction show up on the income statement, balance sheet, and statements of cash flow? Be specific. (continues from #4) Now Apple sell all of those iPads, booking $135M in revenue. How does this transaction show up on the income statement, balance sheet, and statements of cash flow? Be specific. 5
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