Merchandise Inventory increased $28,000 and Accounts Payable decreased $19,600 during the year
Accounts Payable relates only to the acquisition of merchandise inventory. Sales were $796,000 and Cost of Goods Sold was $549,700. Compute the payment made to the suppliers.
A) $577,700
B) $569,300
C) $597,300
D) $47,600
C .C)
Increase in Merchandise Inventory $28,000
Decrease in Accounts Payable 19,600
Cost of Goods Sold 549,700
Cash Paid to Suppliers of Merchandise Inventory $597,300
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