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The following selected account balances were taken from ABC Company's g eneral ledgers for 2019: Inventory Accounts payable Salaries payable Investments Accounts receivable Land Notes
The following selected account balances were taken from ABC Company's g eneral ledgers for 2019: Inventory Accounts payable Salaries payable Investments Accounts receivable Land Notes payable Common stock Retained earnings January 1, 2019 49,000 28,000 9,000 69,000 68,000 58,000 120,000 100,000 22,000 December 31, 2019 52,000 50,000 3,000 75,000 53,000 88,000 195,000 120,000 35,000 The following information was taken from ABC Company's 2019 income stat ement: Sales revenue Cost of goods sold Salaries expense Net income $430,000 300,000 68,000 $ 62,000 Calculate the amount of cash paid to suppliers for purchases of invento ry during 2019
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