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For each of the following transactions, indicate the type of cash flow involved based on the classifications in the statement of cash flows. If a transaction does not involve cash, select 'No Cash. Account Transactions Classifications 1. Pay employees' salaries 2. Repay borrowing to the bank 3. Purchase equipment with note payable 4. Provide services to customers on account. 5. Pay dividends to stockholders. 6. Collect cash from customers for services provided 7. Purchase supplies on account. 8. Pay for supplies purchased in transaction 7 above.

For each of the following transactions, indicate the type of cash flow involved based on the classifications in the statement of cash flows. If a transaction does not involve cash, select 'No Cash. Account Transactions Classifications 1. Pay employees' salaries 2. Repay borrowing to the bank 3. Purchase equipment with note payable 4. Provide services to customers on account. 5. Pay dividends to stockholders. 6. Collect cash from customers for services provided 7. Purchase supplies on account. 8. Pay for supplies purchased in transaction 7 above.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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For each of the following transactions, indicate the type of cash flow involved based on the classifications in the statement of cash flows. If a transaction does not involve cash, select 'No Cash. Account Transactions Classifications 1. Pay employees' salaries 2. Repay borrowing to the bank 3. Purchase equipment with note payable 4. Provide services to customers on account. 5. Pay dividends to stockholders. 6. Collect cash from customers for services provided 7. Purchase supplies on account. 8. Pay for supplies purchased in transaction 7 above.
Transcribed Image Text:For each of the following transactions, indicate the type of cash flow involved based on the classifications in the statement of cash flows. If a transaction does not involve cash, select 'No Cash. Account Transactions Classifications 1. Pay employees' salaries 2. Repay borrowing to the bank 3. Purchase equipment with note payable 4. Provide services to customers on account. 5. Pay dividends to stockholders. 6. Collect cash from customers for services provided 7. Purchase supplies on account. 8. Pay for supplies purchased in transaction 7 above.
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