James Company Experienced the Following Events During Its Accounting Period:(1)Purchased

question 141

Multiple Choice

James Company experienced the following events during its accounting period:(1) Purchased $10,000 of inventory on account.(2) Returned $2,000 of the inventory purchased in Event 1.(3) Paid the remaining balance in account payable for the inventory purchased in Event 1.(4) Sold inventory purchased in Event 1 for $10,000 to customers on account.At the end of the first accounting period what would be reported for Net Operating Cash Flow on the Statement of Cash Flows?

• A)$2,000
• B)($8,000)
• C)($10,000)
• D)Zero

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