Use the Information Provided to Calculate the Missing Cash Paid

question 8

Essay

Use the information provided to calculate the missing cash paid for merchandise for the period.
$\begin{array}{|l|lcc|} \hline \text { Accounts payable, beginning-year.\ldots \ldots \ldots \ldots \ldots \ldots \ldots } & \$60,000\\\hline \text { Cost of goods sold.\ldots \ldots \ldots \ldots \ldots \ldots \ldots } &244,000\\\hline \text { Merchandise inventory, beginning-year\ldots \ldots \ldots \ldots \ldots \ldots \ldots } & 35,000\\ \hline\text {Merchandise inventory, year-end\ldots \ldots \ldots \ldots \ldots \ldots \ldots } &40,500\\\hline \text { Accounts payable, year-end\ldots \ldots \ldots \ldots \ldots \ldots \ldots } &64,800\\\hline \text { Cash paid for merchandise. \ldots \ldots \ldots \ldots \ldots \ldots \ldots} &\\ \hline\end{array}$

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Definitions:

Reward Systems

Organizational mechanisms designed to recognize and compensate employees for their contributions and performance.

Reduce Competition

Strategies or actions taken by companies to lessen the intensity of competition within a market or industry.

Policies and Procedures

Established guidelines and systematic steps designed to achieve efficiency, quality, and compliance in business operations.

Direct Behaviour

The act of influencing or guiding actions and conduct through explicit instructions or leadership.