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Question: Zimmer Company completed its first year of operations on December 31, 2017. Its initial income statement showed that Zimmer had sales revenue of $198,000 and operating expenses of $83,000. Accounts receivable and accounts payable at year-end were $60,000 and $23,000, respectively. Assume that accounts payable related to operating expenses. Ignore income taxes.

Instructions: Compute net cash provided by operating activity using the direct method.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92665471

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