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Fill in the blank for each of the following situations. Balance Sheet Beginning Ending Income Statement Cash Inflow (Outflow) Accounts Receivable $2,000 $5,000 Sales on

Fill in the blank for each of the following situations.

Balance Sheet

Beginning

Ending

Income Statement

Cash Inflow (Outflow)

Accounts Receivable

$2,000

$5,000

Sales on Account, $15,000

Inflow of $12,000

Prepaid Insurance

$4,000

$3,000

Insurance expense, $7,000

Outflow of $6,000

Income Taxes payable

$6,000

$9,000

Income Tax expense, $20,000

Outflow of $35,000

Wages Payable

$5,000

$3,000

Wages expense, $25,000

Outflow of $27,000

I am trying to make sure I did this problem corrrectly. The highlighted is the blank in each situation.

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