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Selected data from three companies appear below: Ashpot Co.Potassium Co.Phosphate ...

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Selected data from three companies appear below: Ashpot Co.Potassium Co.Phosphate ...

Selected data from three companies appear below:

   Ashpot Co.   Potassium Co.   Phosphate Co.
Sales   $425,000   $325,000   $300,000
Cost of goods sold   280,000   230,000   200,000
Increase (decrease) in inventory   (40,000)   25,000   42,000
Increase (decrease) in accounts receivable   63,000   (20,000)   22,000
Increase (decrease) in accounts payable   37,000   30,000   (16,000)

Determine the cash paid to suppliers for inventory during the year for each company. The Accounts payable account relates solely to the purchase of inventory.

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Exploring Microsoft Office 2013, Volume 2, Canadian Edition

Edition: 1^st

Authors: Grauer, Jenne, Igonor

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