Cash payments to suppliers of merchandise
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
ACCT 102
![The general ledger of AXM, Inc., provides the following information relating to purchases of merchandise.
End of Beginning
I of Year
$ 780,000
500,000
Year
Inventory
Accounts payable to merchandise suppliers
$820,000
430, 000
REE重 G E OR 亚
The company's cost of goods sold during the year was $2,882,000. Compute the amount of cash payments made during the year to
suppliers of merchandise.
Cash payments to suppliers of merchandise](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F65578d39-fdd5-4714-8102-8ad433eb12f5%2Fbccf9039-1567-4add-ada7-67d3c2ab1db9%2Fevis2hg_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The general ledger of AXM, Inc., provides the following information relating to purchases of merchandise.
End of Beginning
I of Year
$ 780,000
500,000
Year
Inventory
Accounts payable to merchandise suppliers
$820,000
430, 000
REE重 G E OR 亚
The company's cost of goods sold during the year was $2,882,000. Compute the amount of cash payments made during the year to
suppliers of merchandise.
Cash payments to suppliers of merchandise
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