Question: Following are partial balance sheet data for CCR Ltd. as at December 31, 20x2 and 20x1, and the partial income statement for the year ended
Following are partial balance sheet data for CCR Ltd. as at December 31, 20x2 and 20x1, and the partial income statement for the year ended December 31, 20x2: Balance Sheets - 20x2 20x1 Cash $7,000 $4,000 Inventory 85,000 82,000 Accounts payable 40,000 35,000 Interest payable 2,000 4,000 Income Statement- Revenue 20x2 $840,000 (500,000) Cost of Goods Sold Which of the following is the correct amount for cash paid to suppliers? Select one: a. $492,000 Ob. $502,000 c. $498,000 d. $508,000
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