Says 86000 is wrong for "cash paid for merchandise purchased". I believe I did the math right. Please help

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Operating Cash Flows (Direct Method) Calculate the cash flow for each of the following cases. a.Cash paid for rent: Rent expense Prepaid rent, beg. year +A $ 62,000 $65,000 11,000 Prepaid rent, end of year b. Cash received as interest: Interest income Interest receivable, beg. year Interest receivable, end of year 8,000 +A $ 14,700 $15,500 3,000 3,800 c. Cash paid for merchandise purchased: $ 86,000 x Cost of goods sold $87,000 Inventory, beg. year 19,000 Inventory, end of year 23,000 Account payable, beg. year 11,000 8,000 Accounts payable, end of year Check Operating Cash Flows (Direct Method) Calculate the cash flow for each of the following cases. a.Cash paid for rent: Rent expense Prepaid rent, beg. year +A $ 62,000 $65,000 11,000 Prepaid rent, end of year b. Cash received as interest: Interest income Interest receivable, beg. year Interest receivable, end of year 8,000 +A $ 14,700 $15,500 3,000 3,800 c. Cash paid for merchandise purchased: $ 86,000 x Cost of goods sold $87,000 Inventory, beg. year 19,000 Inventory, end of year 23,000 Account payable, beg. year 11,000 8,000 Accounts payable, end of year Check

Answer rating: 100% (QA)

bd Inventory 19000 COS 87... View the full answer