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Question
3. Beginning and ending balances for relevant balance sheet accounts are as follows:
| 12/31/15 | 1/01/15 | |
| Merchandise inventory | $32,000 | $21,000 |
| Accounts payable | 15,000 | 8,000 |
During 2015, cost of goods sold was $102,000. Calculate the amount of cash paid to suppliers of merchandise inventory.
Answer
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