Determining Selected Amounts for Cash Flows from Operating Activities-Direct Method Selected data taken from the accounting records of Ginis Inc. for the current year ended December 31 are as follows: Balance, December 31 Balance, January 1 Accrued expenses payable (operating expenses) $4,870 $5,320 Accounts payable (merchandise creditors) 35,550 39,240 Inventories 65,990 71,730 During the current year, the cost of merchandise sold was $380,600, and the operating expenses other than depreciation were $66,500. The direct method is presenting the cash flows from operating activities on the statement of cash flows. a. Determine the amount reported on the statement of cash flows for cash payments for merchandise. $ 377,950 x b. Determine the amount reported on the statement of cash flows for cash payments for operating expenses. Check My Work what accounts would have an impact on the amount of cash paid for merchandise? Consider what journal entry would need to be made to pay for purchase made on account. What accounts would have an impact on the cash paid for operating expenses during a period