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Use the following information about the calendar-year cash flows of MacArthur Company to prepare a statement of cash flows direct method and a schedule of non cash investing and financing activities

Use the following information about the calendar-year cash flows of MacArthur Company to prepare a statement of cash flows (direct method) and a schedule of noncash investing and financing activities. Cash and cash equivalents beginning year balance ...............................$18,000 Cash and cash equivalent, year-end balance ............................................78,750 Cash payments for merchandise inventory...............................................75,750 Cash paid for store equipment .................................................................15,750 Cash borrowed on three-month note payable ..........................................22,500 Cash dividend paid .................................................................................12,000 Cash paid for salaries ................................................................................39000 Cash payments for other operating expenses ...........................................48,000 Building purchased and financed by long term note payable ..................78,000 Cash received from customers ................................................................220,500 Cash interest received ..................................................................................8250

May 14 2020 View more View Less

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