A summary of cash flows for linda's design services for the year ended december 31 follows: line item description amount cash receipts: cash received from customers $84,500 cash received from owner's investment 21,200 cash payments: cash paid for expenses $27,400
Cash paid for land 45,000
cash paid for supplies 390
Cash paid for owner withdrawals 3,800 cash balance as of january 1 $40,500