1.For each of the following three separate cases, use the information provided about the calendar year 2014 operations of Sahim Company to compute the required cash flow information.
Case X: Compute cash received from customers:
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 515,000
Accounts receivable, December 31, 2013 . . . . . . . . . . 27,200
Accounts receivable, December 31, 2014 . . . . . . . . . . 33,600
Case Y: Compute cash paid for rent:
Rent expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 139,800
Rent payable, December 31, 2013 . . . . . . . . . . . . . . . . . 7,800
Rent payable, December 31, 2014 . . . . . . . . . . . . . . . . . 6,200
Case Z: Compute cash paid for merchandise:
Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 525,000
Merchandise inventory, December 31, 2013 . . . . . . . . . 158,600
Accounts payable, December 31, 2013 . . . . . . . . . . . . . 66,700
Merchandise inventory, December 31, 2014 . . . . . . . . . 130,400
Accounts payable, December 31, 2014 . . . . . . . . . . . . . 82,000