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Problem - Cash paid for merchandise purchases
The cost of merchandise sold for Kohl's Corporation for a recent year was $10,680 million. The balance sheet showed the following current account balances (in millions):
Balance, End of Year
Balance, Beginning of Year
Merchandise inventories
$2,923
$2,799
Accounts payable?
2,374
1,827?
Required - Determine the amount of cash payments for merchandise.
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