QUESTION 30 The following selected account balances appeared on the financial statements of the Washington Company. Use these balances to answer the questions that follow Accounts receivable, Jan. 1 Accounts receivable, Dec. 31 Accounts payable, Jan. 1 Accounts payable, Dec. 31 Inventory, Jan. 1 Inventory, Dec. 31 Sales Cost of goods sold $13,000 9,000 4,000 7,000 10,000 15,000 56,000 31,000 The Washington Company uses the direct method to calculate net cash flow from operating activities. Assume that all accounts payable are owed to merchandise suppliers. Cash payments for merchandise were a $23,000 b. $33,000 $39,000 d. $29,000