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Motif Furniture designs and sells modern furniture. For each of the following first-quarter transactions, indicate whether operating (O), investing (I), or financing activities (F) are

Motif Furniture designs and sells modern furniture. For each of the following first-quarter transactions, indicate whether operating (O), investing (I), or financing activities (F) are affected and whether the effect is a cash inflow (+) or outflow (-).

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Activity Cash Flow 1 . Bought used equipment for cash. 2. Paid cash to purchase new equipment. 3. Declared and paid cash dividends to shareholders. F 4. Collected payments on account from customers. O + 5. Recorded an adjusting entry to record accrued salaries expense. O 6. Recorded and paid interest on debt to creditors. O 7. Repaid principal on loan from bank. F 8. Prepaid rent for the following period. 9. Made payment to suppliers on account. OO

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