Geographic Enterprise's Inventory account decreased $37,500 and its Accounts Payable account (which relates solely to the purchase of merchandise)decreased $13,760 during the year.Geographic also reported sales of $856,000 and cost of goods sold of $597,600 during the same period.Geographic's payments to suppliers for inventory during the year were:

Question

Quizplus · Accepted Answer

The Answer of Geographic Enterprise's Inventory account decreased $37,500 and its Accounts Payable account (which relates solely to the purchase of merchandise)decreased $13,760 during the year.Geographic also reported sales of $856,000 and cost of goods sold of $597,600 during the same period.Geographic's payments to suppliers for inventory during the year were:

Geographic Enterprise's Inventory Account Decreased $37,500 and Its Accounts Payable