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The following selected account balances were taken from L4vQ Company's 2033 accounting records: Accounts payable Common stock Inventory Notes payable Retained earnings Unearned revenue January
The following selected account balances were taken from L4vQ Company's 2033 accounting records: Accounts payable Common stock Inventory Notes payable Retained earnings Unearned revenue January 1, 2033 $63,000 $28,000 $42,000 $34,000 $19,000 $22,000 December 31, 2033 $34,000 $61,000 $84,000 $65,000 $ 47,000 $29,000 L4VQ Company's income statement for 2033 appears below: Sales revenue Cost of goods sold Salaries expense Net income $707,000 $563,000 $ 95,000 $ 49,000 Calculate the amount of cash L4vQ Company paid to its suppliers for purchases of inventory during 2033
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