Determination of Cash Flows e11A. Business appliCation ? After adjusting entries had been made,… 1 answer below »
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Determination of Cash Flows
e11A. Business appliCation ▶ After adjusting entries had been made, Infosys Com- pany’s balance sheets showed the following asset and liability amounts at the end of 2013 and 2014:
(Continued)
The following amounts were taken from the 2014 income statement:
Insurance expense
$1,900
Wages expense
9,750
Fees earned
4,450
Calculate the amount of cash paid for insurance and wages and the amount of cash received for fees during 2014.
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