Debit Balance, December 31, prior year Receipts from customers Receipts from equipment sale Receipts from issuing stock Cash a. Cash used by investing activities b. Cash provided by financing activities Credit 12,000 72,000 Payments for inventory 31,000 Payments for salaries 48,000 Payments for land Payments for a copyright Payments for dividends 18,000 37,000 24,000 60,000 Balance, December 31, current year Use the above Cash account to determine (a) cash flows used by investing activities and (b) cash flows provided by financing activities. 20,000 4,000

Use the above Cash account to determine (a) cash flows used by investing activities and (b) cash flows provided by financing activities