A company's inventory account increased $26,800 and its accounts payable account decreased
$18,240 during the year. The accounts payable relates only to the acquisition of inventory. Sales
were $789,500 and cost of goods sold was $532,700.
What was the amount of payments to
supplier of inventory?
A) $577,740 B) $559,500 C) $532,700 D) $541,260
A
Business
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In a freely floating exchange rate system, the sale of Japanese cars to the United States will be offset by which item on the US balance of payments?
A) a credit on the current account B) a credit on the capital account C) a debit on the trade account D) A or B
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