Calculate the first and second year annual payment that you could withdraw for a "growing annuity" using the following assumptions: interest rate = 9% inflation rate = 3% remaining life expectancy = 29 years amount invested at retirement date = $1,300,000 first withdrawal taken at the end of the year hint real rate: ((1 + interest rate) divided by (1 + inflation rate)) - 1. round real rate to two decimal places.

A) Yes No

Explanation:

A net decrease in accounts receivable means that the company received more cash from its customers (higher cash positions), so income will be higher for businesses using cash basis than accrual basis.

On the other hand, if accrued liabilities decrease, it means that the company paid more debts, reducing its cash positions. If the company uses cash basis accounting, their income will decrease since the cash position decreases.