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Partial Balance Sheet Data and Additional Information for Samuelson Company

Question 25

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Partial balance sheet data and additional information for Samuelson Company are listed below:
Partial balance sheet data and additional information for Samuelson Company are listed below: Additional Information: (a)Net income for 2014 was $15,000. (b)Depreciation expense for 2014 was $30,000. (c)Sales for 2014 totaled $490,000; cost of goods sold was $350,000. Compute the amount of cash paid in 2011 for inventory purchases.
Additional Information:
(a)Net income for 2014 was $15,000.
(b)Depreciation expense for 2014 was $30,000.
(c)Sales for 2014 totaled $490,000; cost of goods sold was $350,000.
Compute the amount of cash paid in 2011 for inventory purchases.

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