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Unformatted text preview: $ 75,000 Add: Increase in inventory 7,000 Less: Increase in accounts payable (3,000 ) Cash payments $ 79,000 3 For general and administrative expenses: General and administrative expense $ 8,000 Less: Decrease in office supplies (3,000) Add: Decrease in salaries and wages payable 1,000 Cash payments $ 6,000 4 For interest: Interest expense $ 3,000 Add: Decrease in interest payable 500 Cash payments $ 3,500 5 For taxes: Income tax expense $ 5,000 Less: Increase in income taxes payable (1,500 ) Cash payments $ 3,500...
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This note was uploaded on 04/13/2008 for the course ACCT 201 taught by Professor Scconline during the Summer '07 term at UNL.
- Summer '07