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Terms in this set (52)

Select all that apply
Glueck Corp. reports sales revenue of $200,000. During the year, the company's accounts receivable balance decreased by $14,000. Additional information reveals that during the year accounts totaling $7,000 were written off and bad debt expense of $10,000 recognized. A journal entry prepared to determine cash collected from customers would include credits to (Select all that apply.)
Multiple select question.
allowance for doubtful accounts for $3,000.
sales revenue for $200,000.
accounts receivable for $14,000.
cash for $207,000.
bad debt expense for $10,000.

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Which of the following would result in a cash outflow from investing activity?

which of the following would result in a cash outflow from investing activities? purchase of a machine for cash.

Which of the following would cause an outflow of cash?

Purchase of an equipment would result in a cash outflow and hence would be classified as cash outflow from investing activities.

Which of the following would be an outflow of cash from operating activities?

Cash outflows (payments) from operating activities include: Cash payments to acquire materials for providing services and manufacturing goods for resale. Cash payments to employees for services. Cash payments considered to be operating activities of the grantor. Cash payments for quasi-external operating transactions.

Which of the following represent cash outflows from financing activities quizlet?

Cash outflows from financing activities include the payment of cash dividends, the acquisition of treasury stock, and the repayment of amounts borrowed. Cash flows from investing activities, as part of the statement of cash flows, include payments for the acquisition of fixed assets.