Question

1 ili Shape Outline Shapes Arrange Quick Styles Shape Effects Drawing Replace Select- nt 2 Paragraph 5 Editing Quiz 4 Immersive Incorporated reports an increase in Accounts Payable of $9,200 and an increase in inventory of $45,000 for the current year. Accounts Payable relates solely to the purchase of merchandise. Sales on account were $532,100 and cost of goods sold was $358,000. The payments to suppliers for inventory during the period were:

Answer 1

Total cash payment to the supplier = Cost of goods sold + Increase in Inventory - Increase in Accounts Payable
= $3,58,000 + $45,000 - $9,200

= $3,93,800