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Question 36 (Mandatory) (5 points) The following selected account balances appeared on the financial statements of the Washington Company: Accounts receivable, Jan. 1 Accounts receivable.

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Question 36 (Mandatory) (5 points) The following selected account balances appeared on the financial statements of the Washington Company: Accounts receivable, Jan. 1 Accounts receivable. Dec. 31 $13,000 9,000 Accounts payable, Jan. 1 4,000 Accounts payable. Dec. 31 7,000 Merchandise inventory, Jan. 1 10,000 Merchandise inventory, Dec. 31 15,000 Sales 56,000 Cost of merchandise sold 31,000 The Washington Company uses the direct method to calculate net cash flow from operating activities. Cash payments for merchandise were $39,000 $33,000 $29,000 $23,000

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