Utley Company had a cost of purchases of $280,000. The comparative statement of financial posititon analysis revealed a $10,000 decrease in inventory and a $20,000 increase in accounts payable. What were Utley's cash payments to suppliers?

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Cost of purchases = $280,000Decrease in inventory = $10,000Increase in accounts payable = $20,000Cash payments to suppliers = Cost of purchases + Decrease in inventory - Increase in accounts payable= $280,000 + $10,000 - $20,000= $260,000

Utley Company Had a Cost of Purchases of $280,000