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Acme Inc. is a distributor of swimming pool equipment. During 20Y3, Acme reported selling and administrative expenses of $688,000, the balance of Acme's prepaid insurance
Acme Inc. is a distributor of swimming pool equipment. During 20Y3, Acme reported selling and administrative expenses of $688,000, the balance of Acme's prepaid insurance account increased by $32,000, and the balance of Acme's accrued wages payable account decreased by $26000 Acme also recognized $35,000 of depreciation expense on office equipment in 20Y3. What were Acme's cash payments for selling and administrative expenses during 20Y3? $647,000 $659,000 $711,000 $781,000 None of the above
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