Question

The income statement for Electronic Wonders reports net sales of $91,758 million and cost of goods sold of $69,278 million. An examination of balance sheet amounts indicates accounts receivable increased $ 1,733 million, inventory increased $ 883 million, and accounts payable to suppliers decreased $ 1,967 million.

Required:
Using the direct method, calculate
(1) Cash received from customers
(2) Cash paid to suppliers.



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  • CreatedJuly 15, 2014
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