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You are provided with the following transactions that took place during the year. For each transaction listed, indicate whether it will increase, decrease, or have
You are provided with the following transactions that took place during the year. For each transaction listed, indicate whether it will increase, decrease, or have no effect on free cash flow. Recorded credit sales $2, 500. Collected $1, 900 owed by customers. Paid amount owed to suppliers $2, 750. Recorded sales returns of $500 and credited the customer's account. Purchased new equipment $5,000; signed a long-term note payable for the cost of the equipment. Purchased a patent and paid $65,000 cash for the asset
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