Solved: Acme paid its suppliers outsource manufacturers 380 of, Accounting Basics

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Acme paid its suppliers outsource manufacturers 380 of

Question - Acme paid its suppliers (outsource manufacturers) $380 of Acme's accounts owed to the suppliers. $100 was paid for purchases in 2015 and the rest of the payment was for purchases in 2016. How is this displayed on the Balance Sheet and Income Statement?

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Accounting Basics: Acme paid its suppliers outsource manufacturers 380 of

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