The financial statements for Ozzie Company show the following: How much cash was paid for merchandise?
A)$117,000.
B)$119,000.
C)$121,000.
D)$124,000.

Name: The financial statements for Ozzie Company show the following: How much cash was paid for merchandise? A)$117,000. B)$119,000. C)$121,000. D)$124,000.
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Question

Quizplus · Accepted Answer

The cash paid for merchandise is calculated by adjusting the cost of goods sold for changes in inventory and accounts payable. The correct calculation leads to $119,000.

The Financial Statements for Ozzie Company Show the Following: How