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Which of the following statements correctly describes the effect of recording the collection of a $19,000 account receivable for which a 5% sales discount was
Which of the following statements correctly describes the effect of recording the collection of a $19,000 account receivable for which a 5% sales discount was recorded at the time of collection? Multiple Choice Accounts receivable will decrease $18,050. Current assets will remain the same. Gross profit will decrease $950. Net sales will increase $18,050. During the current year, Rock Company's cash balance increased from $81,000 to $93,200. Rock's net cash flow from operating activities was $39,200 and its net cash flow from financing activities was $14,900. How much was Rock's net cash flow from investing activities? Multiple Choice A net cash flow of ($41,900). A net cash flow of $39,100. A net cash flow of $66,300. A net cash flow of ($66,300)
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