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Compute the amount of cash payments made during the year

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Reference no: EM132404646

Question

The general ledger of AXM, Inc., provides the following information relating to purchases of merchandise.

End of Year Beginning of Year Inventory $ 861,000 $ 780,000 Accounts payable to merchandise suppliers 466,000 500,000

The company's cost of goods sold during the year was $2,220,000. Compute the amount of cash payments made during the year to suppliers of merchandise.

Reference no: EM132404646

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