Cost of merchandise sold reported on the income statement was ($ 568,000). The accounts payable balance decreased

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Cost of merchandise sold reported on the income statement was $\$ 568,000$. The accounts payable balance decreased $\$ 28,000$, and the inventory balance decreased by $\$ 39,000$ over the year. Determine the amount of cash paid for merchandise.

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Financial Accounting

ISBN: 9780324380675

10th Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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Question Posted: Jun 11, 2024 12:02 AM

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Cost of merchandise sold reported on the income statement was ($ 568,000). The accounts payable balance decreased

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Financial Accounting

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