Question: For the year ended December 3 1 , 2 0 2 3 : Beginning Balance Ending Balance Prepaid royalties 8 8 , 0 0 0

For the year ended December 31,2023: Beginning Balance Ending Balance
Prepaid royalties 88,00092,000
Royalties payable 51,00061,000
Royalty Expense 1,200,000
Required: What was cash outflow for royalties for 2023?

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