The following selected account balances appeared on the financial statements of
ID: 2485755 • Letter: T
Question
The following selected account balances appeared on the financial statements of the Washington Company:
$13,000
9,000
4,000
7,000
10,000
15,000
56,000
Cost of Merchandise Sold = 31,000
Cash payments for merchandise were?
$29,000
$39,000
$23,000
$33,000
Accounts receivable, Jan. 1$13,000
Accounts receivable, Dec. 319,000
Accounts payable, Jan. 14,000
Accounts payable, Dec. 317,000
Merchandise inventory, Jan. 110,000
Merchandise inventory, Dec. 3115,000
Sales56,000
Cost of Merchandise Sold = 31,000
Cash payments for merchandise were?
a.$29,000
b.$39,000
c.$23,000
d.$33,000
Explanation / Answer
$33,000
d.$33,000