Blackmon Company reported net income of $805,000 and cost of goods sold of $1,525,000 on...
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Accounting
Blackmon Company reported net income of $805,000 and cost of goods sold of $1,525,000 on its income statement. In addition, Blackmon reported an increase in inventory of $65,410, a decrease in prepaid insurance of $12,800, and a decrease in accounts payable of $43,190.
Required: Compute the amount of cash payments to suppliers using the direct method.
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