The income statement for Blues Traveler Company shows cost of


Question Description:

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The income statement for Blues Traveler Company shows cost of goods sold $310,000 and operating expenses (exclusive of depreciation) $230,000. The comparative balance sheet for the year shows that inventory increased $26,000, prepaid expenses decreased $8,000, accounts payable (related to merchandise) decreased $17,000, and accrued expenses payable increased $11,000.

Compute (a) cash payments to suppliers and (b) cash payments for operating expenses.m

Answer

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