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In Year 1, Expert Electronics, Incorporated (EEI) recognized $9,200 of sales revenue on account and collected $5,700 of cash from accounts receivable. Further, EEl recognized
In Year 1, Expert Electronics, Incorporated (EEI) recognized $9,200 of sales revenue on account and collected $5,700 of cash from accounts receivable. Further, EEl recognized $4,500 of operating expenses on account and paid $2,500 cash as partial settlement of accounts payable. Required Based on this information alone: a. Prepare the operating activities section of the statement of cash flows under the direct method. b. Prepare the operating activities section of the statement of cash flows under the indirect method. Complete this question by entering your answers in the tabs below. Prepare the operating activities section of the statement of cash flows under the direct method. (Cash outflows should be indicated with a minus sign.) Prepare the operating activities section of the statement of cash flows under the indirect method. (Cash outflows should be indicated with a minus sign.)
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