Effect of Transactions on Cash Flows State the effect (cash receipt or cash payment and amount) of each of the following transactions, considered individually, on cash flows: a. Retired $320,000 of bonds, on which there was $3,200 of unamortized discount, for $333,000. b. Sold 7,000 shares of $15 par common stock for $27 per share. C. Sold equipment with a book value of $51,300 for $73,900. d. Purchased land for $436,000 cash. e. Purchased a building by paying $67,000 cash and issuing a $110,000 mortgage note payable. f. Sold a new issue of $290,000 of bonds at 97. g. Purchased 5,600 shares of $15 par common stock as treasury stock at $29 per share. h. Paid dividends of $2.40 per share. There were 33,000 shares issued and 5,000 shares of treasury stock. Effect Amount $ 333,000 Cash payment Cash receipt Cash receipt Cash payment Cash payment Cash receipt Cash payment Cash payment Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $116,000. Depreciation recorded on store equipment for the year amounted to $19,100. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $42,260 31,230 Accounts receivable (net) $45,940 32,940 44,980 5,050 Inventories 47,540 Prepaid expenses 4,010 39,980 43,050 Accounts payable (merchandise creditors) Wages payable 23,520 26,120 a. Prepare the "Cash flows from operating activities" section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Statement of Cash Flows (partial) Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash flow from operating activities: Depreciation Changes in current operating assets and liabilities: Increase in accounts receivable Decrease in inventories Increase in prepaid expenses Increase in accounts payable Decrease in wages payable Net cash flow from operating activities Cash Received from Customers-Direct Method Sales reported on the income statement were $225,000. The accounts receivable balance decreased $14,300 over the year. Determine the amount of cash received from customers