The general ledger of Lopez Company provides the following information:
The company's net sales for the year was $2,200,000 and cost of goods sold amounted to $1,500,000.
Instructions
Compute the following:
(a) Cash receipts from customers.
(b) Cash payments to suppliers.

Question

The general ledger of Lopez Company provides the following information:  
The company's net sales for the year was $2,200,000 and cost of goods sold amounted to $1,500,000.
Instructions
Compute the following:
(a) Cash receipts from customers.
(b) Cash payments to suppliers.

Quizplus · Accepted Answer

The Answer of The general ledger of Lopez Company provides the following information:  
The company's net sales for the year was $2,200,000 and cost of goods sold amounted to $1,500,000.
Instructions
Compute the following:
(a) Cash receipts from customers.
(b) Cash payments to suppliers.

The General Ledger of Lopez Company Provides the Following Information