Selected data taken from the accounting records of Bentson Inc. for the current year ended December 31
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During the current year, the cost of merchandise sold was $627,900, and the operating expenses other than depreciation were $109,200. The direct method is used for presenting the cash flows from operating activities on the statement of cash flows. Determine the amount reported on the statement of cash flows for
(a) Cash payments for merchandise and
(b) Cash payments for operatingexpenses.
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a Cost of merchandise sold 627900 Add decrease in accounts payable 6006 633...View the full answer
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