Question
The following information is related to Jamin Co. for the year 2009: - Beginning inventory: $35,000 Cost of sales: $120,000 Purchases paid cash: $38.000
The following information is related to Jamin Co. for the year 2009: -
Beginning inventory: $35,000
Cost of sales: $120,000
Purchases paid cash: $38.000
Supplier's account balance as at 1/1/2009: $20,000
Ending inventories: $40,000
Supplier's account balance as at 31/12/2009 : $3,000
What was the total cash paid for purchases of goods during 2009 ?
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Intermediate Accounting IFRS
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
3rd edition
1119372933, 978-1119372936
