The following data are from a comparison of the balance sheets of Shaun Company as of December 31, 2020, and December 31, 2019: Accounts Receivable increase P7,600 Inventory decrease 4.500 Accounts Payable increase 2,400 The following data are from Shaun's 2020 income statement: Sales P200.000 Cost of Goods Sold 110.000 How much cash was paid for inventory purchases?

The following data are from a comparison of the balance sheets of Shaun Company as of December 31, 2020, and December 31, 2019: Accounts Receivable increase P7,600 Inventory decrease 4.500 Accounts Payable increase 2,400 The following data are from Shaun's 2020 income statement: Sales P200.000 Cost of Goods Sold 110.000 How much cash was paid for inventory purchases?

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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