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Classifying Cash Flows - Identify whether each of the following would be reported as an operating, investing, or financing activity on the statement of cash flows:
a. Retirement of bonds payable
b. Purchase of inventory for cash
c. Cash sales
d. Repurchase of common stock
e. Payment of accounts payable
f. Disposal of equipment

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Answer:

Classifying Cash Flows:

Retirement of bonds payable  ⇒  Financing activity

Purchase of inventory for cash  ⇒  Operating activity

Cash sales  ⇒  Operating activity

Repurchase of common stock  ⇒  Financing activity

Payment of accounts payable  ⇒  Operating activity

Disposal of equipment ⇒  Investing activity

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