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Ogden Company uses its accounts payable account only for inventory purchases. The following account balances were reported on its financial statements: Accounts December31, 2018 December
Ogden Company uses its accounts payable account only for inventory purchases. The following account balances were reported on its financial statements:
Accounts December31, 2018 December 31, 2017
Merchandise inventory $70,000 $66,000
Accounts payable 68,000 65,000
Cost of goods sold 889,000 856,000
How much cash did Ogden Company pay to suppliers during 2018?
a$887,000
b$890,000
c$896,000
d$34,000
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