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Use the following information about the current year operations of a company to calculate the cash paid for merchandise. Cost of goods sold............ $231,000 Merchandise
Use the following information about the current year operations of a company to calculate the cash paid for merchandise.
Cost of goods sold............ $231,000
Merchandise inventory, January 15........$9,800
Merchandise inventory, December 31......... $61,900
Accounts payable, January 15....... $8,900
Accounts payable, December 31......... $64,800
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