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  3. 3. trace the "cash journey" through this company's

3. Trace the "cash journey" through this company's income statement and...

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Accounting

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3. Trace the "cash journey" through this company's income statement and balance sheet. You only need to show the accounts affected. For example, "the owner invests $10,000 in cash into the business" would be recorded as follows: Balance sheet Cash $10,0000 Owner's equity $10,000 a. The owner invests $50,000 in cash into the business. b. The business purchases $40,000 of inventory for cash. c. The business sells the $40,000 of inventory for $60,000. d. The business earns $20,000 in profit and transfers this amount to the balance sheet

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