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Hill Foundation for Education has a beginning balance in accounts payable of $7,500 and an ending balance of $10,000. Which section of the Foundation's
Hill Foundation for Education has a beginning balance in accounts payable of $7,500 and an ending balance of $10,000. Which section of the Foundation's statement of cash flows (prepared using the indirect method) would report this information and what amount would be reflected? Show the journal entry which reflects the net change and identify the effect on net income and cash.
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