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Relevant account balances for Martinez Corporation are: 12/31/17 $18,000 24,000 1.500 25.000 101/17 $14,000 26,000 2,100 26,000 Accounts receivable Inventory Prepaid insurance Accounts payable Income
Relevant account balances for Martinez Corporation are: 12/31/17 $18,000 24,000 1.500 25.000 101/17 $14,000 26,000 2,100 26,000 Accounts receivable Inventory Prepaid insurance Accounts payable Income information for 2017 Revenue Cost of goods sold Insurance expense Operating expenses Depreciation Net income $120,000 $60,000 6,000 18,000 10000 94.000 $ 26000 How much cash was paid to suppliers for inventory during 2017? $2.000 $59,000 $63.000 $61.000
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