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Alexis Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December 31. 2020, Alexis Company reports the following activity:
Sales on account
1,300,000
Cash sales
740,000
Decrease in accounts receivable
610,000
Increase in accounts payable
72,000
Increase in inventory
48,000
Cost of goods sold
975,000
problem 1: What is the amount of cash payments to suppliers reported by Alexis Company for the year ended December 31, 2020?
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