Midtown Diner, Inc., purchased $10,000 of paper napkins for its restaurants. At the end of the period, three-fourths of the bill for the napkins is unpaid while an inventory revealed that 40% of the napkins were still on hand. What combination of amounts would affect the income statement and statement of cash flows?Statement of Cash Flow   Income Statement

A. $6,000                                 $6,000
B. $7,500                                 $4,000
C. $2,500                                 $6,000
D. $6,000                                 $2,500


Answer: C

Business

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