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On January 1, Mays Corporation signed a contract to perform $21,000 worth of services for the Farmer Company over the next three years. Which

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On January 1, Mays Corporation signed a contract to perform $21,000 worth of services for the Farmer Company over the next three years. Which of the following indicates the effects of this event on the income statement and statement of cash flows of Mays Corporation on the day the contract was signed? Net Income Cash Flows Operating Cash Flows Investing Cash Flows Financing a N/A N/A N/A N/A b $21,000 N/A $21,000 N/A C $21,000 $21,000 N/A N/A d N/A N/A N/A $21,000

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