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Exercise 3 - 6 A ( Algo ) Purchase discounts and purchase returns LO 3 - 2 , 3 - 3 On April 6 ,
Exercise A Algo Purchase discounts and purchase returns LO On April Home Furnishings purchased $ of merchandise from Una's Imports, terms n On April Home Furnishings returned $ of the merchandise to Una's Imports for credit. Home Furnishings paid cash for the merchandise on April Required:a What is the amount that Home Furnishings must pay Una's Imports on April b Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. More specifically, record the amounts of the events into the model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities OA investing activities IA or financing activities FAc How much must Home Furnishings pay for the merchandise purchased if the payment is not made until April d Record the payment for the merchandise in Requirement c in the horizontal financial statements model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities A investing activities IA or financing activities FAComplete this question by entering your answers in the tabs below.
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