Question 1 of 5
(4.67)/(14)
The comparative statement of financial position for Blossom Corporation shows the following noncash current asset and liability accounts at March 31:
able[[,2024,2023],[Accounts receivable,$61,000,$41,400]]
(4.67)/(14)
BLOSSOM CORPORATION
Statement of Cash Flows (Partial)
For the Year Ended March 31, 2024
Cash Flows from Operating Activities
Cash Receipts from Customers $810,000
Cash payments for Other Operating Expenses $220,000
Increase in Salaries Payable $51,500
Decrease in Merchandise Inventory $500,000
Increase in Income Tax Payable $15,400
Net Cash Provided by Operating Activities $1,596,900
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