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The following selected account balances appeared on the financial statements of the Washington Company: Accounts receivable, Jan. 1 $13,000 Accounts receivable, Dec. 31 9,000 Accounts payable, Jan. 1 4,000 Accounts payable, Dec. 31 7,000 Merchandise inventory, Jan. 1 10,000 Merchandise inventory, Dec. 31 15,000 Sales 56,000 Cost of Merchandise Sold = 31,000 Cash payments for merchandise were?

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Accounting Basics, Accounting

Category:- Accounting Basics
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