You are provided with the following transactions that took place during the year.
| Transactions Don't use plagiarized sources. Get Your Custom Essay on you are provided with the following transactions that took place during the year 535411 For $10/Page 0nly | Free Cash | CurrentCash | Cash Debt |
| (a) Recorded credit sales $2,500. | |||
| (b) Collected $1,900 owed by customers. | |||
| (c) Paid amount owed to suppliers $2,750. | |||
| (d) Recorded sales returns of $500 and credited the customer”s account. | |||
| (e) Purchased new equipment $5,000; signed a long-term note payable | |||
| for the cost of the equipment. | |||
| (f ) Purchased a patent and paid $65,000 cash for the asset. |
Instructions
For each transaction listed above, indicate whether it will increase (I), decrease (D), or have no effect (NE) on the ratios.
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