CASH PAID FOR MERCHANDISE Douglas Company's cost of goods sold for 20-2 was $400,000. Compute the amount
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CASH PAID FOR MERCHANDISE Douglas Company's cost of goods sold for 20-2 was $400,000. Compute the amount of cash paid for merchandise in 20-2. The December 31, 20-2 and 20-1, balances of Merchandise Inventory and Accounts Payable were asfollows:
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20-1 20-2 Merchandise Inventory Accounts Payable $60,000 30,000 $80,000 70,000
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