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What amount should Jenny report as cash payments

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Reference no: EM133141671

Question - The following information was taken from the 2021 financial statements of Jenny Corporation:

Inventory, January 1, 2020 $90,000

Inventory, December 31, 2021 120,000

Accounts payable, January 1, 2020 75,000

Accounts payable, December 31, 2021 120,000

Sales Revenue 600,000

Cost of goods sold 450,000

Assuming all inventory is purchased on credit, what amount should Jenny report as cash payments to suppliers for 2021 using the direct method of cash flows?

Reference no: EM133141671

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