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At the end of 2015, Sunland Enterprises’ Accounts Payable balance was $337,653; at the end of...

At the end of 2015, Sunland Enterprises’ Accounts Payable balance was $337,653; at the end of 2016, it was $156,894. Assume that the company purchased $1,912,723 of inventory during 2016 and that Cost of Goods Sold for 2016 was $1,931,562.

Calculate the company’s cash payments to suppliers in 2016.

Cash payments to suppliers   
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Answer #1

Answer Cash payments to supplier = $2093482

Calculated as

Calculation of payments to Supplier
Beginning supplier $            337,653
Add: Purchases $        1,912,723
Less: Ending Suppliers $            156,894
Payment to suppliers $        2,093,482

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