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For each of the five independent situations below, prepare a journal entry that summarizes the purchases, sales, and payments related to inventories in order to
For each of the five independent situations below, prepare a journal entry that summarizes the purchases, sales, and payments related to inventories in order to determine the amount of cash paid to suppliers. All dollars are in millions.
Complete this question by entering your answers in the tabs below.
Cash Paid to Supp
Calculate the amount of cash paid to suppliers for each situation.
Note: Enter your answers in millions ie should be entered as
tableSituationtableCost of GoodsSoldtableInventory IncreaseDecreasetableAccounts PayableIncrease DecreasetableCash Paid toSuppliers
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