D Knowledge Check 01 Cost of goods sold was $159,400 for the period. The beginning and ending Inventory balances for the period were $18,700 and $13,700, respectively. The beginning and ending Accounts Payable balances for the period were $22,500 and $8,200, respectively. What was the amount of the cash paid to suppliers during the period? Cash paid to suppliers

Consider the following financial statement information: Item Beginning Year Ending Inventory € 9.780 € 11.380 € 4.108 € 4.938 € 7.636 € 7.927 Accounts Receivable Accounts Payable Credit Sales Cost of Goods Sold € 89.804 € 56.384 Calculate the operating and cash cycles. How do you interpret your answer?

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Subject: accounting    Shown below in T-account format are the beginning and ending balances ($ in millions) of both inventory and accounts payable. Inventory Debit Credit Beginning balance 125.0 Ending balance 126.7 Accounts Payable Debit Credit 38.0 Beginning balance 42.4 Ending balance Required: Use a T-account analysis to determine the amount of cash paid to suppliers of merchandise during the reporting period if cost of goods sold was $310 million. Prepare a summary entry that represents the net effect of merchandise purchases during the reporting period.