Question
The following selected account balances appeared on the financial statements of the Washington Company: Accounts receivable, Jan. 1 $13,000 Accounts receivable, Dec. 31 9,000 Accounts
The following selected account balances appeared on the financial statements of the Washington Company:
| Accounts receivable, Jan. 1 | $13,000 | ||||||||||||
| Accounts receivable, Dec. 31 | 9,000 | ||||||||||||
| Accounts payable, Jan. 1 | 4,000 | ||||||||||||
| Accounts payable, Dec. 31 | 7,000 | ||||||||||||
| Merchandise inventory, Jan. 1 | 10,000 | ||||||||||||
| Merchandise inventory, Dec. 31 | 15,000 | ||||||||||||
| Sales | 56,000 | ||||||||||||
| Cost of Merchandise Sold = 31,000 Cash payments for merchandise were?
|
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IT Auditing And Sarbanes Oxley Compliance Key Strategies For Business Improvement
Authors: Dimitris N. Chorafas
1st Edition
036738650X, 978-0367386504
