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QUESTION 1. A company's accounts receivable increased during the year by $6 million. What is the amount of cash the company received from customers during
QUESTION 1. A company's accounts receivable increased during the year by $6 million. What is the amount of cash the company received from customers during the reporting period if its sales were $50 million?
QUESTION 2. A company's inventory increased during the year by $7 million. Its accounts payable increased by 9 million during the same period. What is the amount of cash paid to suppliers of merchandise during the reporting period if its cost of goods sold was $35 million?
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