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Figure 37-5
Use the figure to answer the corresponding question(s) .
-In Figure 37-5, the structure labeled 2:
Cash Payments
Cash payments refer to transactions in which money is exchanged immediately for goods or services, without the use of credit.
Accounts Payable
Liabilities or money owed by a company to its creditors or suppliers for goods and services received but not yet paid for.
Inventory Balance
The total value of all the goods and materials held by a company at a specific point in time.
Cash Payments
Refers to transactions where money is physically paid out or deducted from an account to settle obligations or acquire goods and services.
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