Chapter 2--Business Activities--The Source of Accounting ...
Mort Kramer Income Statement For the Month Ended July 31 Sales $ 8,800 Expenses Cost of goods sold $4,000 Rent expense 1,200 Wages expense 2,000 Total expenses 7,200 Net income $ 1,600 b. Mort Kramer Statement of Cash Flows For the Month Ended July 31 Operating Activities Collected from customers $ 8,800 Paid for merchandise inventory (5,600 ... ................
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