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Martinez Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2024, Martinez Company reports the following: Sales on account Cash sales Decrease in accounts receivable Increase in accounts payable Increase in inventory Cost of goods sold $2000000 1120000 $1534000 $1746000 $1606000 $1394000 919000 106000 70000 1570000 What amount of cash payments to suppliers will be reported by Martinez Company for the year ended December 31, 2024?

Martinez Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2024, Martinez Company reports the following: Sales on account Cash sales Decrease in accounts receivable Increase in accounts payable Increase in inventory Cost of goods sold $2000000 1120000 $1534000 $1746000 $1606000 $1394000 919000 106000 70000 1570000 What amount of cash payments to suppliers will be reported by Martinez Company for the year ended December 31, 2024?

FINANCIAL ACCOUNTING
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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Martinez Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2024, Martinez Company reports the following: Sales on account Cash sales Decrease in accounts receivable Increase in accounts payable Increase in inventory Cost of goods sold $2000000 1120000 $1534000 $1746000 $1606000 $1394000 919000 106000 70000 1570000 What amount of cash payments to suppliers will be reported by Martinez Company for the year ended December 31, 2024?
Transcribed Image Text:Martinez Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31, 2024, Martinez Company reports the following: Sales on account Cash sales Decrease in accounts receivable Increase in accounts payable Increase in inventory Cost of goods sold $2000000 1120000 $1534000 $1746000 $1606000 $1394000 919000 106000 70000 1570000 What amount of cash payments to suppliers will be reported by Martinez Company for the year ended December 31, 2024?
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