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Windsor Corp. uses the direct method to prepare its statement of cash flows. Windsor trial balances at December 31, 2020 and 2019, are as follows.
Windsor Corp. uses the direct method to prepare its statement of cash flows. Windsor trial balances at December 31, 2020 and 2019, are as follows. December 31 Debits 2020 2019 Cash $35,200 $32,100 Accounts receivable 33,000 29,900 Inventory 31,000 46,800 Property, plant, & equipment 100,400 95,500 Unamortized bond discount 4,500 5,000 Cost of goods sold 249,400 378,600 Selling expenses 140,800 172,300 General and administrative expenses 137,300 152,200 Interest expense 4,300 2,600 Income tax expense 20,100 61,100 $756,000 $976,100Credits Allowance for doubtful accounts $1,300 $1,100 Accumulated depreciationplant assets 16,300 14,800 Accounts payable 24,700 15,500 Income taxes payable 21,200 28,800 Deferred tax liability 5,400 4,700 8% callable bonds payable 45,500 20,000 Common stock 49,800 40,000 Paid-in capital in excess of par 9,100 7,500 Retained earnings 45,200 64,800 Sales revenue 537,500 778,900 $756,000 $976,100 Additional information: Additional information: 1. Windsor purchased $4,900 in equipment during 2020. 2. Windsor allocated one-third of its depreciation expense to selling expenses and the remainder to general and administrative expenses. 3. Bad debt expense for 2020 was $5,100, and write-offs of uncollectible accounts totaled $4,900. Determine what amounts Windsor should report in its statement of cash ows for the year ended December 31, 2020, for the following items. (a) Cash collected from customers. $ (b) Cash paid to suppliers. $ (c) Cash paid for interest. 5 (d) Cash paid for income taxes. $ (e) Cash paid for selling expenses. $
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