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romanna [79]
2 years ago
15

he income statement for Electronic Wonders reports net sales of $91,758 million and cost of goods sold of $69,278 million. An ex

amination of balance sheet amounts indicates accounts receivable increased $1,733 million, inventory increased $883 million, and accounts payable to suppliers decreased $1,967 million.Required:Using the direct method, calculate (1) cash received from customers and (2) cash paid to suppliers.
Business
1 answer:
Anna71 [15]2 years ago
4 0

Answer:

Cash received from customers is $90,025  million

Cash paid to suppliers is $72,128   million

Explanation:

Cash received from customers is the net sales of $91,758 million minus the increase in accounts receivable since that is the portion of revenue yet to be received.

cash received from customers=$91,758 million-$1,733 million=$90,025  million

cash paid to suppliers is the cost of goods sold of $69,278 million plus the increase in inventory as well as the increase in accounts payable

cash paid to suppliers=$69,278 million+$883 million+$1,967 million=$72,128 million  

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A small wine and cheese store in Milwaukee sells dozens of different type of cheese: Bulgarian, French, Danish, Greek, and a dom
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An import​ quota: A. Is always more costly to a country than an import tariff. B. Has the same effects on welfare as an import t
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D. Generates rents that might go to foreigners.

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