The cost of merchandise sold during the year was $60,0000 . Merchandise inventories were $10,500 and $12,500 at the beginning and end of the year, respectively. Accounts payable were $10,000 and $9,000 at the beginning and end of the year, respectively. Using the direct method of reporting cash flows from operating activities, cash payments for merchandise total ________
a. $63,000
b. $61,000
c. $53,000
d. $57,000
a
Business
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