During the current year, a firm sells inventory on account for $1,000. The inventory (which...
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Accounting
During the current year, a firm sells inventory on account for $1,000. The inventory (which was
purchased in a prior period) originally cost $700. An additional $50 was spent (in the current year)
sending the goods to a customer.
The firms net cash flows from these transactions would equate to:
- a $1,000 increase in cash.
- a $700 decrease in cash.
c. a $300 increase in cash.
d. a $50 decrease in cash.
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