Classify each of the following items as a source or use of cash by placing an X in each appropriate column.Assume all transactions involve cash.
Definitions:
Medical Insurance
A type of insurance coverage that pays for an insured individual's healthcare expenses.
Taxable Income
The amount of income used to determine how much the taxpayer owes in taxes, after deductions and exemptions.
Tax Freedom Day
The day of the year by which a nation as a whole has theoretically earned enough income to pay its taxes for the year.
1099 Forms
Tax documents used in the United States to report various types of income other than wages, salaries, and tips.
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