Question: Davis Company uses the direct method to prepare its statement of cash flows.Refer to the following information reported for the year 2014: Operating expenses, $26,000

  • Davis Company uses the direct method to prepare its statement of cash flows.Refer to the following information reported for the year 2014:
  • Operating expenses, $26,000
  • Accrued Liabilities, beginning balance, $3,000
  • Accrued Liabilities, ending balance, $5,000
  • What amount was paid to suppliers for operating expenses on a cash basis?
  • $29,000
  • $28,000
  • $24,000
  • $31,000

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