Based on the following transactions, answer the following questions.
i Purchased inventory with a cost of $ on account.
ii Sales on account to customers totalled $
iii. Payments made to employees for wages totalled $
iv Cash collections from customers settling their accounts totalled $
v Invoice received from the utility company for $ is due in days.
vi Payments totalling $ were made to suppliers to settle part of the balance owing to them.
vii. Received a deposit of $ from a customer for goods to be delivered next month.
a
Your answer is partially correct.
Calculate the revenues, expenses, net income that would be reported on the cash basis. Enter loss amounts using either a negative sign preceding the number eg or parentheses eg
