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The general ledger of the Culinary Plate's Food Company provides the following information: End of Year Beginning of Year Accounts Receivable $ 65,000 $ 84,000
The general ledger of the Culinary Plate's Food Company provides the following information: End of Year Beginning of Year Accounts Receivable $ 65,000 $ 84,000 Inventory 350,000 200,000 Accounts Payable 40,000 65,000 The company's net sales for the year were $2,200,000 and cost of goods sold amounted to $1,750,000. REQUIRED: Calculate the following (Show calculations): (a) Cash receipts from customers (b) Cash payments to suppliers
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