How do the following transactions impact your working capital (increase it? Decrease it? No change?) a. Paid off a long-term note payable of $100,000 b. Issued bonds payable for $1 million C. Received payments of $20,000 on accounts receivable balances d. Prepaid insurance in the amount of $1400 e. Sold inventory for cash

How do the following transactions impact your working capital (increase it? Decrease it? No change?) a. Paid off a long-term note payable of $100,000 b. Issued bonds payable for $1 million C. Received payments of $20,000 on accounts receivable balances d. Prepaid insurance in the amount of $1400 e. Sold inventory for cash

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 2PB: To demonstrate the difference between cash account activity and accrual basis profits (net income),...

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