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At January 1, 2020, accounts payable was $22,000. During 2020, the company purchased $98,000 of inventory on account. At December 31, 2020, accounts payable balance
At January 1, 2020, accounts payable was $22,000. During 2020, the company
purchased $98,000 of inventory on account. At December 31, 2020, accounts
payable balance was $15,000. What was the amount of cash paid on accounts
payable during 2020?
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
9th Edition
978-0470317549, 9780470387085, 047031754X, 470387084, 978-0470533475
