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Boreal Corporation is a private corporation reporting under ASPE and uses the indirect method when preparing its statement of cash flows.The company has engaged in the following transactions.For each transaction, indicate where it would be reflected on the statement of cash flows.
-A receipt of dividends on trading investments:
Prepaid Rent Expense
An asset account that shows the amount of rent paid in advance, which has not yet been consumed or used.
Freight-In
The cost associated with transporting goods into a facility, usually included in the inventory cost of the goods purchased.
Periodic Method
An accounting inventory system where updates to the inventory records are made periodically at the end of an accounting period.
Net Purchases
The total amount of purchases minus purchase returns, allowances, and discounts received during a specific period.
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