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Rolling Meadows Country Club Inc. is a privately owned corporation that operates a golf club. Rolling Meadows reported the following inflows and outflows of cash
Rolling Meadows Country Club Inc. is a privately owned corporation that operates a golf club. Rolling Meadows reported the following inflows and outflows of cash during 2019: Net income $125,800 Decrease in accounts receivable 7,175 Increase in pro shop inventory 23,300 Increase in prepaid insurance 12,600 Increase in accounts payable 13,210 Decrease in wages payable 7,400 Increase in income taxes payable 2,125 Cash paid for new golf carts 85,000 Cash received from sale of used golf carts 12,700 Depreciati
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