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7-xavier_case - 2 Cash payments made on accounts payable to...

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CASE XAVIER METALS COMPANY Additional information for Xavier: (a) All accounts receivable and accounts payable relate to trade merchandise. (b) The proceeds from the notes payable were used to finance plant expansion. (c) Capital stock was sold to provide additional working capital. Compute the following for 2005: 1. Cash collected from accounts receivable, assuming all sales are on account.
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Unformatted text preview: 2. Cash payments made on accounts payable to suppliers, assuming that all purchases of inventory are on account. 3. Cash payments for dividends. 4. Cash receipts that were not provided by operations. 5. Cash payments for assets that were not reflected in operations....
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