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ACCT 382 - Week 4 - Chapter 4 Homework - Question 5

ACCT 382 - Week 4 - Chapter 4 Homework - Question 5
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ACCT 382 - Week 4 - Chapter 4 Homework - Question 5

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Question 5

The following summary transactions occurred during 2013 for Bluebonnet Bakers:

 

 

 

  Cash Received from:

 

 

     Customers

$

380,000  

     Interest on note receivable

 

6,000  

     Principal on note receivable

 

50,000  

     Sale of investments

 

30,000  

     Proceeds from note payable

 

100,000  

  Cash Paid for:

 

 

     Purchase of inventory

 

160,000  

     Interest on note payable

 

5,000  

     Purchase of equipment

 

85,000  

     Salaries to employees

 

90,000  

     Principal on note payable

 

25,000  

     Payment of dividends to shareholders

 

20,000  


The balance of cash and cash equivalents at the beginning of 2013 was $17,000.