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Question - IMT Co. reported the following selected information for 2010:
Sales revenue $865,000
Cost of goods sold 360,000
Depreciation expense 43,000
Salaries & wages expense 178,000
Rent Expense 95,000
Beginning of Year
End of Year
Accounts receivable
$15,000
$35,000
Prepaid rent
21,000
15,000
Salaries & wages payable
33,000
18,000
Required - Use the above information to calculate:
i) The cash collected from customers.
ii) The cash paid for depreciation.
iii) The cash paid to employees.
iv) The cash paid for rent.
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