Question 8 The transactions below relate to ABC Company. Indicate how each transaction would be classified on the statement of cash flows. Select your answer by clicking in the drop down box to the right of each transaction. Answer choices may be used once, more than once, or not at all. In answering the questions below, assume the company prepares its financial statements following GAAP. [Choose ] ABC purchased $40,000 worth of store equipment from Libby Company by paying $8,000 cash and agreeing to pay the remainder within six months. [Choose] ABC Company received $3,000 cash from a customer for services to be performed in the following month. ABC Company sold stock to owners for $100,000 cash. [Choose ] ABC Company received and paid a $500 utility bill. [Choose ] ABC Company spent $25,000 cash to acquire a patent. [Choose ] Question 8 1 [ Choose ] operating activity The transactions below relate how each transaction would b of cash flows. Select your ans down box to the right of each may be used once, more than the questions below, assume financial statements following financing activity this transaction would not be reported on the statement of cash flows investing activity [Choose ] ABC purchased $40,000 worth of store equipment from Libby Company by paying $8,000 cash and agreeing to pay the remainder within six months. [ Choose ] ABC Company received $3,000 cash from a customer for services to be performed in the following month. ABC Company sold stock to owners for $100,000 cash. [ Choose ] ABC Company received and paid a $500 utility bill. [Choose ] ABC Company spent $25,000 cash to acquire a patent. [ Choose ]