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The following selected account balances were taken from Buckeye Company's general ledger at January 1, 2025 and December 31, 2025: Accounts payable January 1
The following selected account balances were taken from Buckeye Company's general ledger at January 1, 2025 and December 31, 2025: Accounts payable January 1 $ 42,000 December 31 $ 36,000 Accounts receivable $ 25,000 Common stock $110,000 $ 17,000 $180,000 Inventory $ 25,000 $ 28,000 Land $ 60,000 Notes payable $ 83,000 $ 73,000 $122,000 Retained earnings $ 30,000 Salaries payable $ 19,000 $ 46,000 $ 13,000 Buckeye Company's 2025 income statement is given below: Sales revenue Cost of goods sold Salaries expense Net income $420,000 $269,000 $ 93,000 $ 58,000 Calculate the amount of cash paid to suppliers for purchases of inventory during 2025.
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