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The Richburn Manufacturing Company increased its merchandise inventory by $13,000 over the year. The company also granted its customers more liberal credit terms which increased
The Richburn Manufacturing Company increased its merchandise inventory by $13,000 over the year. The company also granted its customers more liberal credit terms which increased the accounts receivable by $33,500. Sales were $971,000 and the accounts payable decreased by $23,500. The gross profit on sales is 45%. Marketing and administrative expenses were $141,000; this included depreciation expense of $9,000. What were the cash disbursements for the year?
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