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How do determine cash paid to suppliers

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Question 1. INFORMATION FROM THE INCOME STATEMENT:

Sales                      $660,000

Cost of sales          $450,000

Interest expense       $5,300

INFORMATION FROM THE BALANCE SHEET:

Accounts receivable decreased by  $9,000

Inventory increased by               $24,000

Accounts payable decreased by   $18,000

Interest payable increased by      $1,500

Bond discount decreased by          $300

Determine cash paid to suppliers. Show your computations.

Question 2. In the Statement of Cash Flows and in the explanatory notes related to it, are only the transactions that cause an increase or decrease in cash reported? Explain using specific examples.

Reference no: EM132622763

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