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Requirement 1. Show separate computations for cash, inventory, and owners' equity balances. Begin by calculating the cash balance. Cash Beginning balance Cash inflows: Cash sales
Requirement 1. Show separate computations for cash, inventory, and owners' equity balances. Begin by calculating the cash balance. Cash Beginning balance Cash inflows: Cash sales Collections Cash outflows: Payment of March liabilities Cash purchases Payments for April (credit) purchases Purchase of equipment Operating expenses Ending balance
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