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For the month of June. Thomson Services has the following transactions: June 2 Obtain cash by borrowing $22,000 from the bank. June 3 Pay rent
For the month of June. Thomson Services has the following transactions: June 2 Obtain cash by borrowing $22,000 from the bank. June 3 Pay rent for the current month, $1,800. June 7 Provide services to customers, $6,500 for cash and $2,900 on account. June 11 Purchase equipment necessary for operations, $18,500 cash. June 17 Pay employees' salaries for the first half of the month, $5,200. June 22 Pay dividends to stockholders, $2,300. June 25 Receive cash in advance from customers, $2,800. June 28 Pay utilities for the month, $1,900. Record salaries earned by employees for the second half of the month, June 30 $5,200. Payment will be made on July 2. Required: Assume the balance of cash at the beginning of June is $12,500. Prepare a statement of cash flows for the month of June, properly classifying each of the cash transactions into operating, investing, and financing activities
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