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SOLUTION (TABLE) The following information has been gathered by the accountant for Knock Knock Ltd.: Information related to sales and customers: Credit sales made in
SOLUTION (TABLE)
The following information has been gathered by the accountant for Knock Knock Ltd.: Information related to sales and customers: Credit sales made in the year. $ 333,000 Cash sales in the year. 44,700 Accounts receivable, beginning 15,000 Accounts receivable, ending... 19,200 Information related to merchandise: Cost of goods sold... $ 125,500 Inventory, beginning. 11,300 Inventory, ending... 20,100 Accounts payable to suppliers, beginning. 8,800 Accounts payable to suppliers, ending.. 13,900 Information related to employees: $ 65,500 Salaries expense reported Vacation pay expense reported.. 4,600 Accrued salaries payable, beginning... 2,900 Accrued salaries payable, ending 4,400 Accrued vacation payable, beginning.. 400 Accrued vacation payable, ending 750 Required: a) Determine cash received from customers. b) Determine cash paid to suppliers. c) Determine cash paid to employeesStep by Step Solution
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