What amount of cash was paid on accounts payable to suppliers during 2015?

Question

Quizplus · Accepted Answer

According to the table given, the total amount of accounts payable to suppliers at the beginning of the year was $4,500,000. The table also shows that the total amount of accounts payable to suppliers at the end of the year was $6,500,000. By subtracting the beginning balance from the ending balance, we get the change in accounts payable, which is $6,500,000 - $4,500,000 = $2,000,000. Finally, we add the change in accounts payable to the cost of goods sold, which is $6,850,000 + $2,000,000 = $8,850,000. Therefore, $8,850,000 was paid on accounts payable to suppliers during 2015.

What Amount of Cash Was Paid on Accounts Payable to Suppliers