Davis Company Uses the Direct Method to Prepare Its Cash

question 83

Multiple Choice

Davis Company uses the direct method to prepare its cash flow statement.Refer to the following information reported for the year 2016: Operating expenses,$27,000
Accrued liabilities,beginning balance,$3400
Accrued liabilities,ending balance,$5500
What amount was paid to suppliers for operating expenses on a cash basis?

• A)$30,400
• B)$32,500
• C)$29,100
• D)$24,900

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