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Partial Balance Sheets and Additional Information Are Listed Below for Monaco

Question 16

Essay

Partial balance sheets and additional information are listed below for Monaco Company. Partial balance sheets and additional information are listed below for Monaco Company. Additional information for 2013: Net income was $270,000. Depreciation expense was $30,000. Sales totaled $800,000. Cost of goods sold totaled $305,000. Required: Calculate the amount of cash paid to merchandise suppliers during 2013. Additional information for 2013:
Net income was $270,000.
Depreciation expense was $30,000.
Sales totaled $800,000.
Cost of goods sold totaled $305,000.
Required:
Calculate the amount of cash paid to merchandise suppliers during 2013.

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