How much are cash payments for inventory, Financial Accounting

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How much are cash payments for inventory

Response to the following problem:

Compute the following items for the statement of cash flows:

a. Beginning and ending Accounts Receivable are $22,000 and $18,000, respectively. Credit sales for the period total $81,000. How much are cash collections?

b. Cost of goods sold is $90,000. Beginning Inventory balance is $25,000, and ending Inventory balance is $21,000. Beginning and ending Accounts Payable are $11,000 and $8,000, respectively. How much are cash payments for inventory?

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Financial Accounting: How much are cash payments for inventory

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