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Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 26ISBN: 978-1285743615Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 26ISBN: 978-1285743615 Exercise 30
Cash payments for merchandise-direct method
The cost of merchandise sold reported on the income statement was $770,000. The accounts payable balance decreased $44,000, and the inventory balance decreased by $66,000 over the year. Determine the amount of cash paid for merchandise.
The cost of merchandise sold reported on the income statement was $770,000. The accounts payable balance decreased $44,000, and the inventory balance decreased by $66,000 over the year. Determine the amount of cash paid for merchandise.
Explanation
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Cash payments for merchandise - direct m...
Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac
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