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Cash Payments for MerchandiseDirect Method Cost of merchandise sold reported on the income statement was $367,100. The accounts payable balance increased $32,000, and the inventory
Cash Payments for MerchandiseDirect Method
Cost of merchandise sold reported on the income statement was $367,100. The accounts payable balance increased $32,000, and the inventory balance increased by $41,700 over the year.
Determine the amount of cash paid for merchandise.
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