Nitrogen Inc

Essay

Nitrogen Inc.had the following events occur in 2017.Calculate the cash receipts or cash disbursements for each event.
a.Taxes Payable on January 1 was $12,400 and on December 31 was $13,600.Income Tax Expense on the income statement was reported at $39,000.
b.Cost of goods sold on the income statement was reported at $50,000.Accounts Payable increased $5,000 and Inventory decreased $7,000.
c.Sales were reported on the income statement at $100,000.Accounts Receivable increased $5,700.
d.Interest Revenue on the income statement was reported at $12,000.Interest Receivable decreased $3,600.
e.Salary Expense on the income statement was reported at $55,000.Salary Payable increased $3,900.