Beginning and ending balances for relevant balance sheet accounts are as follows:
$$\begin{array} { | l | r | r | }
\hline & 12 / 31 / 17 & 1 / 01 / 17 \
\hline \text { Merchandise inventary } & \$ 32,000 & \$ 18,000 \
\hline \text { Accaunts payalale } & 13,000 & 20,000 \
\hline
\end{array}$$
During 2017, cost of goods sold was $148,000. Calculate the amount of cash paid to suppliers of merchandise inventory.

Question

Beginning and ending balances for relevant balance sheet accounts are as follows:
 $$\begin{array} { | l | r | r | } 
\hline & 12 / 31 / 17 & 1 / 01 / 17 \
\hline \text { Merchandise inventary } & \$ 32,000 & \$ 18,000 \
\hline \text { Accaunts payalale } & 13,000 & 20,000 \
\hline
\end{array}$$ 
During 2017, cost of goods sold was $148,000. Calculate the amount of cash paid to suppliers of merchandise inventory.

Quizplus · Accepted Answer

The Answer of Beginning and ending balances for relevant balance sheet accounts are as follows:
 $$\begin{array} { | l | r | r | } 
\hline & 12 / 31 / 17 & 1 / 01 / 17 \
\hline \text { Merchandise inventary } & \$ 32,000 & \$ 18,000 \
\hline \text { Accaunts payalale } & 13,000 & 20,000 \
\hline
\end{array}$$ 
During 2017, cost of goods sold was $148,000. Calculate the amount of cash paid to suppliers of merchandise inventory.

Beginning and Ending Balances for Relevant Balance Sheet Accounts Are