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ABC Company has the following data: Cost of Goods Sold $106,000 Beginning Merchandise Inventory 45,000 Ending Merchandise Inventory 43,000 Beginning Accounts Payable 50,000 Ending Accounts Payable 30,000 What is cash paid for merchandise?

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amirmeeka

Answer:

$124,000.

Explanation:

Cost of Goods Sold $106,000 - Beginning Merchandise Inventory 45,000 + Ending Merchandise Inventory 43,000 + Beginning Accounts Payable 50,000 - Ending Accounts Payable 30,000 = $124,000

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