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During the year, Doug's Bakery decreased its accounts receivable by $50, increased its inventory by $100, and decreased its accounts payable by $50. For these three accounts, the firm has a net:
Cash Payments
Transactions that involve the immediate transfer of cash to settle a debt or purchase goods or services.
Acceptance
Acceptance in business refers to the agreement to the terms of a contract or an acknowledgment that a product or service meets the required standards.
Cash Receipts
Money received by a business during a given period, accounting for its cash inflow.
Cash Payments
Transactions that involve the outflow of cash from a company to settle dues such as expenses, debts, or purchases.
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