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The income statement for Edgebrook Company shows cost of goods sold $311,900 and operating expenses (exclusive of depreciation) $229,680. The comparative balance sheet for the year shows that inventory increased $20,470, prepaid expenses decreased $8,440, accounts payable (related to merchandise) decreased $17,780, and accrued expenses payable increased $13,870.

A) Cash payment to suppliers

B) Cash payments for operating expenses

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M943016

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