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QUESTION 3 Correct Mark 1.00 out of 1.00Remove flag Edit question Foot Locker, Inc. is a retailer of athletic footwear and apparel. During a recent fiscal year, Foot Locker purchased merchandise inventory costing $4,047 (S millions). Assume that Foot Locker makes all purchases on credit, and that its accounts payable is only used for inventory purchases. The following T-accounts reflect information contained in the company's balance sheets (S millions). What amount did Foot Locker pay in cash to its suppliers during the fiscal year? Inventories Accounts Payable Select one: Beg Bal. 381 A. $4,067 million B. $20 million C. $103 million D. $381 million B.151 Bal. O End. Bal. End. Bal. 361 1,254 O

QUESTION 3 Correct Mark 1.00 out of 1.00Remove flag Edit question Foot Locker, Inc. is a retailer of athletic footwear and apparel. During a recent fiscal year, Foot Locker purchased merchandise inventory costing $4,047 (S millions). Assume that Foot Locker makes all purchases on credit, and that its accounts payable is only used for inventory purchases. The following T-accounts reflect information contained in the company's balance sheets (S millions). What amount did Foot Locker pay in cash to its suppliers during the fiscal year? Inventories Accounts Payable Select one: Beg Bal. 381 A. $4,067 million B. $20 million C. $103 million D. $381 million B.151 Bal. O End. Bal. End. Bal. 361 1,254 O

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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QUESTION 3 Correct Mark 1.00 out of 1.00Remove flag Edit question Foot Locker, Inc. is a retailer of athletic footwear and apparel. During a recent fiscal year, Foot Locker purchased merchandise inventory costing $4,047 (S millions). Assume that Foot Locker makes all purchases on credit, and that its accounts payable is only used for inventory purchases. The following T-accounts reflect information contained in the company's balance sheets (S millions). What amount did Foot Locker pay in cash to its suppliers during the fiscal year? Inventories Accounts Payable Select one: Beg Bal. 381 A. $4,067 million B. $20 million C. $103 million D. $381 million B.151 Bal. O End. Bal. End. Bal. 361 1,254 O
Transcribed Image Text:QUESTION 3 Correct Mark 1.00 out of 1.00Remove flag Edit question Foot Locker, Inc. is a retailer of athletic footwear and apparel. During a recent fiscal year, Foot Locker purchased merchandise inventory costing $4,047 (S millions). Assume that Foot Locker makes all purchases on credit, and that its accounts payable is only used for inventory purchases. The following T-accounts reflect information contained in the company's balance sheets (S millions). What amount did Foot Locker pay in cash to its suppliers during the fiscal year? Inventories Accounts Payable Select one: Beg Bal. 381 A. $4,067 million B. $20 million C. $103 million D. $381 million B.151 Bal. O End. Bal. End. Bal. 361 1,254 O
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