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Question 4 The following was extracted from the books of L. Lyons: As at Jan. 1, 2007 As at Dec. 31, 2007 $ $ Accounts payable Accounts Receivable 14640 19730 16100 21150 Other information for the year to December 31, 2007: $ Cheques sent to suppliers 168,000 Discounts received 6,400 Cash received from debtors 199,700 Discount allowed 4,820 Required: A calculation of L. Lyons' purchases and sales for the year ended December 31, 2007