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In each of the following cases, use the information provided about the 2020 operations of Prestige Water Corp. to calculate the indicated cash flow:
In each of the following cases, use the information provided about the 2020 operations of Prestige Water Corp. to calculate the indicated cash flow: (Amounts to be deducted should be listed as negative amounts.) Case A: Case B: Case C: Calculate cash received from customers: Sales revenue Accounts receivable, January 1 Accounts receivable, December 31 Calculate cash paid for insurance: Insurance expense Prepaid insurance, January 1 Prepaid insurance, December 31 Calculate cash paid for salaries: Salaries expense $305,000 15,100 20,870 $ 41,020 6,820 10,250 $122,200 Salaries payable, January 1 7,550 Salaries payable, December 31 14,000
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