The General Ledger of Link Company Provides the Following Information

question 128

Essay

The general ledger of Link Company provides the following information: $$\begin{array} { l r c } & \text { End of Year } & \text { Beginning of Year } \\\text { Accounts Receivable } & \$ 55,000 & \$ 94,000 \\\text { Inventory } & 310,000 & 210,000 \\\text { Accounts Payable } & 40,000 & 65,000\end{array}$$ The company's net sales for the year was $2200000 and cost of goods sold amounted to $1500000.
Instructions
Compute the following:
(a) Cash receipts from customers.
(b) Cash payments to suppliers.

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Definitions:

HMGA2 Allele

A specific variant of the HMGA2 gene that has been associated with traits such as height in humans.

Meiosis

A type of cell division that reduces the chromosome number by half, resulting in the production of gametes (sperm and eggs) or spores in plants.

Eukaryotes

Organisms whose cells contain a nucleus and other organelles enclosed within membranes, distinguishing them from prokaryotes.

Chromosomes

Structures composed of DNA and proteins found in the nucleus of most living cells, carrying genetic information in the form of genes.