Question
Z Company, a merchandiser, prepares monthly financial statements. The following are account balances in September: Accounts Payable Merchandise Inventory September 1 $55,490 $59,441 September 30
Z Company, a merchandiser, prepares monthly financial statements. The following are account balances in September:
Accounts Payable Merchandise Inventory
September 1 $55,490 $59,441
September 30 $35,076 $80,314
In September, payments of Accounts Payable were $349,757, and Cost of Goods Sold was $308,470.
Assuming that all merchandise purchases were on account, what were merchandise purchases in September?
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Essentials Of Forensic Accounting
Authors: Michael A Crain, William S Hopwood,
1st Edition
1941651100, 978-1941651100
