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The following selected account balances were taken from uhbx Company's 2039 accounting records: January 1, 2039 December 31, 2039 Inventory $52,000 $39,000 Unearned revenue $17,000
The following selected account balances were taken from uhbx Company's 2039 accounting records: January 1, 2039 December 31, 2039 Inventory $52,000 $39,000 Unearned revenue $17,000 $26,000 Notes payable $65,000 $48,000 Common stock $22,000 $67,000 Investments $64,000 $50,000 Accounts payable $23,000 $72,000 Retained earnings $41,000 $88,000 uhbx Company's income statement for 2039 appears below: Sales revenue $501,000 Cost of goods sold $398,000 Utilities expense $ 34,000 Loss on sale of investments $ 10,000 Net income $ 59,000 Calculate the amount of cash uhbx Company paid to its suppliers for purchases of inventory during 2039.
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