You have the following data for Cable Companys accounts receivable and accounts payable for 2011: Accounts receivable,

Question:

You have the following data for Cable Company’s and for 2011:
Accounts receivable, 1/1/2011 ............ $ 4,750
2011 sales on credit ................ 97,400
Accounts receivable, 12/31/2011 .......... 8,300
Wages payable, 1/1/2011 ............. 5,870
2011 wage expense ............... 38,100
Wages payable, 12/31/2011 ............. 3,900
Required:
1. How much cash did Cable collect from customers during 2011?
2. How would you classify cash collected from customers on the statement of cash flows?
3. How much cash did Cable pay for wages during 2011?
4. How would you classify the cash paid for wages on the statement of cash flows? Accounts Payable
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