On January 1, 2013, Glass Industries ' Inventory balance was $30,000 on December 31, 2013, it was $26,000 The company 's Accounts Payable balance was $17,800 on January 1, 2013 and $19,500 on December 31, 2013 Cost of Goods Sold for the year was $94,750 Required Calculate the company 's cash paymen...

Beginning Inventory balance Purchases COGS Ending Invento ...

On January 1, 2013, Glass Industries' Inventory balance was $30,000; on December 31, 2013, it was $26,000.

Question:

On January 1, 2013, Glass Industries' Inventory balance was $30,000; on December 31, 2013, it was $26,000. The company's balance was $17,800 on January 1, 2013 and $19,500 on December 31, 2013. Cost of Goods Sold for the year was $94,750.

Required
Calculate the company's cash payments to suppliers in 2013.

Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...