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Culver Corporation had January 1 and December 31 balances as follows. 1/1/17 12/31/17 Inventory $112,000 $131,000 Accounts payable 50,000 56,000 For 2017, cost of goods
Culver Corporation had January 1 and December 31 balances as follows.
| 1/1/17 | 12/31/17 | |||
| Inventory | $112,000 | $131,000 | ||
| Accounts payable | 50,000 | 56,000 |
For 2017, cost of goods sold was $553,000. Compute Culvers 2017 cash payments to suppliers.
| Cash payments to suppliers |
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Financial Accounting
Authors: Alan Melville
2nd Edition
0273634399, 978-0273634393
