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The general ledger of Link Company provides the following information: End of Year Beginning of Year Accounts Receivable $55,000 $94,000 Inventory 310,000 210,000 Accounts Payable
The general ledger of Link Company provides the following information:
End of Year | Beginning of Year | ||||
Accounts Receivable | $55,000 | $94,000 | |||
Inventory | 310,000 | 210,000 | |||
Accounts Payable | 40,000 | 65,000 |
The company's net sales for the year was $2,200,000 and cost of goods sold amounted to $1,500,000. Compute the following:
Compute cash receipts from customers
Cash receipts from customers | $ |
Compute cash payments to suppliers
Cash payments to suppliers | $ |
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