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Sysco Corporation, formed in 1969, is the largest global distributor of food service products, serving over 500,000 restaurants, hotels, schools, hospitals, and other institutions.

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Sysco Corporation, formed in 1969, is the largest global distributor of food service products, serving over 500,000 restaurants, hotels, schools, hospitals, and other institutions. The following summarized transactions are typical of those that occurred in a recent year (dollars are in millions). a. Purchased buildings costing $404 and equipment costing $258 for cash. b. Borrowed $99 from a bank, signing a short-term note. c. Provided $55,671 in service to customers during the year, with $24,258 on account and the rest received in cash. d. Paid $135,474 cash on accounts payable. e. Purchased $41,383 of inventory on account. f. Paid payroll, $7,340 during the year. g. Received $20,943 on account paid by customers. h. Purchased and used fuel of $1,500 in delivery vehicles during the year (paid for in cash). i. Declared $798 in dividends at the end of the year to be paid the following year. j. Incurred $128 in utility usage during the year; paid $98 in cash and owed the rest on account.

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