11. The ending Merchandise Inventory for Yr. 1 was $100,000 and for Yr. 2 was $94,000. The Accounts Payable balance for Yr. 1 was $40,000 and for Yr. 2 was $42,000. Cost of Goods Sold for the year was $360,000. What was the total amount of cash payments for merchandise for Yr. 2? O A. $352,000 O B. $356,000 OC. $360,000 OD. $364,000 O E. $368,000

11. The ending Merchandise Inventory for Yr. 1 was $100,000 and for Yr. 2 was $94,000. The Accounts Payable balance for Yr. 1 was $40,000 and for Yr. 2 was $42,000. Cost of Goods Sold for the year was $360,000. What was the total amount of cash payments for merchandise for Yr. 2? O A. $352,000 O B. $356,000 OC. $360,000 OD. $364,000 O E. $368,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Give answer within 45 min...I will give you up vote immediately.... it's very urgent...thank you...
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