9.Windows & Sills Company reported the following information for June:
Merchandise sales$80,000
Total expenses48,000
Net income$16,000
Accounts receivable
Accounts payable
Beginning balance$24,000$18,000
Ending balance28,00024,000
Required:
Determine (a) the amount of cash collected during June, (b) the amount of cash paid, and (c) the net cash flow from operating activities.
10.Sayonara Company reported the following information for June:
Merchandise sales$140,000
Total expenses116,000
Net income$ 24,000
Accounts receivableAccounts payable
Beginning balance$34,000$38,000
Ending balance30,00040,000
Required:
Determine (a) the amount of cash collected during June, (b) the amount of cash paid, and (c) the net cash flow from operating activities.