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Spinx, Inc. reported cost of goods sold of $100,800 during the currect year. Following are the beginning and ending balances of merchandise inventory and accounts
Spinx, Inc. reported cost of goods sold of $100,800 during the currect year. Following are the beginning and ending balances of merchandise inventory and accounts payable for the year:
Merchandise Inventory Beginning $35,000, Merchandise Inventory Ending $43,000, Accounts Payable $23,000, Accounts Payable $32,000.
Determine the amount of cash payments for purchases during the year...
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