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Calculation During 2015, Orton Company earned reported sales revenues equal to $900,000 and cost of...

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Accounting

Calculation

During 2015, Orton Company earned reported sales revenues equal to $900,000 and cost of goods sold equal to $400,000. In addition, the company experienced the following changes in the account balances listed below: Increases Decreases Accounts payable $45,000 Accounts receivable $12,000 Inventory 36,000 Accrued liabilities 24,000 Prepaid insurance 33,000 Calculate:

1. Cash received from customers

2. Cash paid to suppliers

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