Determine the amount of cash paid for merchandise.
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter15: Statement Of Cash Flows
Section: Chapter Questions
Problem 9BE
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Cash Payments for Merchandise—Direct Method
The cost of goods sold reported on the income statement was $185,000. The accounts payable balance increased $8,000, and the inventory balance increased by $11,100 over the year.
Determine the amount of cash paid for merchandise.
$
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