dditional information: 1. Equipment costing \\( \\$ 24,000 \\) was purchased with an \\( \\$...
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Accounting
dditional information: 1. Equipment costing \\( \\$ 24,000 \\) was purchased with an \\( \\$ 8,000 \\) down puyment and the remainder was financed with a note payable. 2. During the year, equipment was sold for \\( \\$ 10,500 \\) cash. This equipment had cost \\( \\$ 12,000 \\) originally and had a carrying amount of \\( \\$ 8,500 \\) at the time of sale. 3. All depreciation expenses are included in the operating expenses category. 4. Notes payable were also repaid during the year. tructions Prepare a cash flow statement for the year using the indirect method. Prepare a cash flow statement for the year using the direct method
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