Acompany deposited a $420 check in its bank account. however, the amount was recorded as $240 in the company’s books (checkbook). which journal entry adjustment should the accountant make? a. the cash account will be debited by $420. b. the cash account will be credited by $240. c. the cash account will be debited by $180. d. the cash account will be credited by $420.

The blumer company entered into the following transactions during 2012: 1. the company was started with $22,000 of common stock issued to investors for cash. 2. on july 1, the company purchased land that cost $15,500 cash. 3. there were $700 of supplies purchased on account. 4. sales on account amounted to $9,500. 5. cash collections of receivables were $5,500. 6. on october 1, 2012, the company paid $3,600 in advance for a 12-month insurance policy that became effective on october 1. 7. supplies on hand as of december 31, 2010 amounted to $225. the amount of cash flow from investing activities would be: