A summary of cash flows for Absolute Consulting Group for the year ended July 31,...
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A summary of cash flows for Absolute Consulting Group for the year ended July 31, 2014, is shown below. Cash receipts: Cash received from customers $145,000 Cash received from additional investment of owner 25,000 Cash payments: Cash paid for operating expenses 82,500 Cash paid for land 37,500 Cash paid to owner for personal use 5,000 The cash balance as of August 1, 2013, was $15,500.
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