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Current Attempt in Progress For each of the following transactions, indicate how (i) net earnings and (ii) cash flows are affected. For each transaction, enter
Current Attempt in Progress For each of the following transactions, indicate how (i) net earnings and (ii) cash flows are affected. For each transaction, enter the amount, (if any) as an increase or as a decrease. If there is no effect, enter " 0 ". (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Do not leave any answer field blank. Enter 0 for amounts.) a. Took out a loan for $131,000. cash and financing the balance with a one-year note payable. c. Purchased $32,000 of inventory from suppliers on account. d. Paid $1,100 for advertising. e. Sold inventory for $35,500 to customers, on account. The goods sold had cost $12,400. f. Paid $21,000 on the accounts owing to suppliers. g. Paid employee wages of $5,200. h. Received payments of $27,000 from customers on their accounts. i. Declared and paid dividends of $2,100. j. Made a loan payment of $3,000 on the loan from transaction (a), of which $2,000 was repayment of loan principal and $1,000 was interest. k. Recorded depreciation of $2,160 on the equipment purchased in transaction (b). I. Recorded $324 in interest owing on the one-year note payable from transaction (b)
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