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Use the Information Provided to Calculate the Missing Cash Paid

Question 207

Essay

Use the information provided to calculate the missing cash paid for merchandise for the period.
 Accounts payable, beginning-year.$60,000 Cost of goods sold.244,000 Merchandise inventory, beginning-year35,000Merchandise inventory, year-end40,500 Accounts payable, year-end64,800 Cash paid for merchandise. \begin{array}{|l|lcc|} \hline \text { Accounts payable, beginning-year.\ldots \ldots \ldots \ldots \ldots \ldots \ldots } & \$60,000\\\hline \text { Cost of goods sold.\ldots \ldots \ldots \ldots \ldots \ldots \ldots } &244,000\\\hline \text { Merchandise inventory, beginning-year\ldots \ldots \ldots \ldots \ldots \ldots \ldots } & 35,000\\ \hline\text {Merchandise inventory, year-end\ldots \ldots \ldots \ldots \ldots \ldots \ldots } &40,500\\\hline \text { Accounts payable, year-end\ldots \ldots \ldots \ldots \ldots \ldots \ldots } &64,800\\\hline \text { Cash paid for merchandise. \ldots \ldots \ldots \ldots \ldots \ldots \ldots} &\\ \hline\end{array}

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