Answer:
Colected from customer 3,002,500
paiment to supplier 1,773,000
Taxes paid 152,000
Explanation:
Account Receivable beginning 280,000
Sales 2,950,000
Total sales to collect 3,230,000
Account receivable ending (227,500)
AKA Not collected
Colected from customer 3002,5
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To calculate cash paid to suppliers
Beginning Payable 117,500
Purchases(A) 1,787,500
Amount to paid 1,905,000
Ending Payable <u> (132,000)</u>
AKa not paid
Total Payments done 1,773,000
(A)
We can use the inventory Identity to solve for purchases
Inventory beginning 122,500
COGS 1,750,000
Ending Inventory 160,000
Purchase = Ending + COGS - Beginning
Purchase = 160,000 + 1,750,000 - 122,500 = 1787,5
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Taxes
beginning 22,500
tax expense 145,000
total taxes 167,500
ending (15,500)
Taxes paid 152,000
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