Use the information provided for Washington Company to answer the questions that follow. The following selected account balances appear on the financial statements of Washington Company: Accounts Receivable, January 1 Accounts Receivable, December 31 Accounts Payable, January 1 Accounts Payable, December 31 Merchandise Inventory, January 1 Merchandise Inventory, December 31 Sales Cost of Merchandise Sold Washington Company uses the direct method to determine net cash flows from operating activities. Cash paid for merchandise during the year is O a. $39,000 O b. $29,000 $13,000 9,000 4,000 7,000 10,000 15,000 56,000 31,000 c. $23,000 d. $33,000

Use the information provided for Washington Company to answer the questions that follow. The following selected account balances appear on the financial statements of Washington Company. Washington Company uses the direct method to determine net cash flows from operating activities. Cash paid for merchandise during the year is a. $39,000 b. $29,000 c. $23,000 d. $33,000