The Bears Corporation Has Provided You the Following Information

question 76

Essay

The Bears Corporation has provided you the following information:
• The accounts receivable balance increased $50,000.
• Net sales was $500,000.
• The gross profit was 40% of net sales.
• The inventory account increased $45,000.
• The accounts payable balance decreased $17,000.
• $7,500 of accounts receivable were written off.
• The bad debt expense was $10,000.
Required:
1.Determine the cash collected from customers.
2.Determine the cash paid to suppliers.

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Definitions:

Middle Adulthood

A stage of life, typically defined as the period between early adulthood and old age, known for significant personal, social, and professional development.

Number of Friends

A quantitative measure reflecting the count of individuals one considers to be friends, often used as an indicator of social connectivity or isolation.

Generativity

The concern for establishing and guiding the next generation, often expressed through parenting, teaching, mentoring, and contributing to societal well-being.

Neuroticism-Emotional Instability

A personality trait characterized by a long-term tendency to experience negative emotions such as anxiety, anger, or depression more easily.