Use the following information about the current year's operations of a company to calculate the cash paid for merchandise. Cost of goods sold$500,000 Merchandise inventory, January 1 85,000 Merchandise inventory, December 31 97,000 Accounts payable, January 1 68,000 Accounts payable, December 31 60,000
A. $480,000.
B. $520,000.
C. $512,000.
D. $585,000.
E. $508,000.
Answer: B
Business
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