Solution-Determine the amount of cash outflow for expenses

Determine the amount of cash outflow for expenses

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Reference no: EM13914999

Ray Company began the accounting period with a $36,000 credit balance in its Accounts Payable account. During the accounting period, Ray incurred expenses on account of $108,000. The ending Accounts Payable balance was $48,000.

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Based on this information, determine the amount of cash outflow for expenses during the accounting period.

Reference no: EM13914999

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Determine the amount of cash outflow for expenses : Ray Company began the accounting period with a $36,000 credit balance in its Accounts Payable account. During the accounting period, Ray incurred expenses on account of $108,000. The ending Accounts Payable balance was $48,000.

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Determine the amount of cash outflow for expenses

Reference no: EM13914999

Reference no: EM13914999

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