The following selected account balances appeared on the financial statements of the Washington Company:
Accounts Receivable, Jan. 1 $13,000
Accounts Receivable, Dec. 31 9,000
Accounts Payable, Jan 1 4,000
Accounts Payable Dec. 31 7,000
Merchandise Inventory, Jan 1 10,000
Merchandise Inventory, Dec. 31 15,000
Sales 56,000
Cost of Goods Sold 31,000
Question:
Cash Collections from customers are?
Cash paid to suppliers is?
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Home » Business » The following selected account balances appeared on the financial statements of the Washington Company: Accounts Receivable, Jan. 1 $13,000 Accounts Receivable, Dec. 31 9,000 Accounts Payable, Jan 1 4,000 Accounts Payable Dec.