While reviewing the Taber Companys income statement for the year, you find that it had sales of

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While reviewing the Taber Company’s income statement for the year, you find that it had sales of $81,600, cost of goods sold of $50,000, and wages expense of $30,200. A review of its beginning and ending balance sheets shows a decrease in accounts receivable of

$3,400, an increase in inventory of $4,500, an increase in wages payable of $3,300, and an increase in accounts payable of $7,800.

Required: Determine the company’s collections from customers, payments to suppliers, and payments to employees for the year.  plo47

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Accounting Information For Business Decisions

ISBN: 9780030224294

1st Edition

Authors: Billie Cunningham, Loren A. Nikolai, John Bazley

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