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Cullumber Incorporated had the following transactions involving current assets and current liabilities during February 2025. Feb. 3 Collected accounts receivable of $11,000. 7 Purchased equipment

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Cullumber Incorporated had the following transactions involving current assets and current liabilities during February 2025. Feb. 3 Collected accounts receivable of $11,000. 7 Purchased equipment for $36,000 cash. 11 Paid $3,500 for a 1-year insurance policy. 14 Paid accounts payable of $14,500. 18 Declared cash dividends of $5,100

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