Martinez Corporation had January 1 and December 31 balances as follows. 1/1/20 12/31/20 Inventory $94,000 $108,000 Accounts payable 69,000 78,000 For 2020, cost of goods sold was $440,000. Compute Martinez’s 2020 cash payments to suppliers. Cash payments to suppliers $

Martinez Corporation had January 1 and December 31 balances as follows. 1/1/20 12/31/20 Inventory $94,000 $108,000 Accounts payable 69,000 78,000 For 2020, cost of goods sold was $440,000. Compute Martinez’s 2020 cash payments to suppliers. Cash payments to suppliers $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

Martinez Corporation had January 1 and December 31 balances as follows.

	1/1/20	12/31/20
Inventory	$94,000	$108,000
Accounts payable	69,000	78,000

For 2020, cost of goods sold was $440,000.

Compute Martinez’s 2020 cash payments to suppliers.

Cash payments to suppliers

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