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During the month of August, Boyce Company had the following transactions: * Revenues of $120,000 were earned and received in cash. * Bank loans of
During the month of August, Boyce Company had the following transactions:
* Revenues of $120,000 were earned and received in cash.
* Bank loans of $18,000 were paid off.
* Equipment of $40,000 was purchased with cash.
* Expenses of $73,600 were paid.
* Stockholders purchased additional shares for $44,000 cash.
A statement of cash flows for August, would report net cash flows from operating activities of
| $26,000. |
| $32,400. |
| $40,000. |
| $46,400. |
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