Business, 07.05.2021 16:00 Suhayb981

Partial balance sheets and additional information are listed below for Monaco Company. Monaco Company Partial Balance Sheets as of December 31 2021 2020 Assets Cash $ 48,000 $ 24,000 Accounts receivable 68,000 98,000 Inventory 29,000 48,000 Liabilities Accounts payable $ 64,000 $ 80,000 Additional information for 2021: Net income was $278,000. Depreciation expense was $38,000. Sales totaled $880,000. Cost of goods sold totaled $313,000. Required: Prepare the summary entry for the amount of cash paid to merchandise suppliers during 2021.

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Partial balance sheets and additional information are listed below for Monaco Company. Monaco Compan...

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