The general ledger of Hubert Corporation provides the following information: End of Year Beginning of Year Accounts Receivable $ 125,000 $ 94,000 Inventory 280, 000 210,000 Accounts Payable 130,000 65,000 The company's net sales for the year were $2,850,000 and cost of goods sold amounted to $1,650,000. Instructions Calculate the following: a) Cash receipts from customers. b) Cash payments to suppliers.

The general ledger of Hubert Corporation provides the following information: End of Year Beginning of Year Accounts Receivable $ 125,000 $ 94,000 Inventory 280, 000 210,000 Accounts Payable 130,000 65,000 The company's net sales for the year were $2,850,000 and cost of goods sold amounted to $1,650,000. Instructions Calculate the following: a) Cash receipts from customers. b) Cash payments to suppliers.

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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