Question
Swifty Corporation had January 1 and December 31 balances as follows. 1/1/17 12/31/17 Inventory$81,000$99,000Accounts payable66,00074,000 For 2017, cost of goods sold was $557,000. Compute Swifty's
Swifty Corporation had January 1 and December 31 balances as follows.
1/1/17
12/31/17
Inventory$81,000$99,000Accounts payable66,00074,000
For 2017, cost of goods sold was $557,000.
Compute Swifty's 2017 cash payments to suppliers.
Cash payments to suppliers
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Using Financial Accounting Information The Alternative to Debits and Credits
Authors: Gary A. Porter, Curtis L. Norton
7th Edition
978-0-538-4527, 0-538-45274-9, 978-1133161646
