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Helo can you PLS help me with all of the Journal Entry And INDIRECT Cash Flow we learn Principles of Accounting Company received back 30%
Helo can you PLS help me with all of the Journal Entry And INDIRECT Cash Flow we learn Principles of Accounting
Company received back 30% of receivables of the I month. Salary expense was 5500 accrued. Rent expense was recognized 500. Utilities accrued 100. Completed services for the previous month and recognized 2000. Sold 2 computers from office equipment cost 1000 for 1800 cash. Company concluded a contract with new customer and provided services amounting 22000 , received 60% by cash rest on account. Depreciation for the remained office equipment was 250 . Profit tax 10% that was accrued. Loan interest was 200. At the end of the month company paid the principle of the loan in the amount of 2500. Required: a) Prepare Cash flow statement using indirect method (12 points) b) Journalize the transactions (8 points)
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