Not use ai please don't During the month of August, IQPC COMPANY had the followingtransactions:1. Revenues of $123,000 were earned and received in cash.2. Bank loans of $20,250 were paid off.3. Equipment of $43,000 was purchased with cash.4. Expenses of $75,100 were paid.5. Stockholders purchased additional shares for $47,000 cash.A statement of cash flows for August would report net cash flows fromfinancing activities of:a. 26,750.b. 31,650.c. 43,000.d. 47,900

Step 1: Introduction to the Cash Flow from Operating ActivitiesA business receives cash for various…

Answered: During the month of August, IQPC…

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter6: Cash And Internal Control

Section: Chapter Questions

Problem 6.2E

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