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Acme Company makes all its inventory sales and inventory pur…
Acme Cоmpаny mаkes аll its inventоry sales and inventоry purchases on account, and all of Acme’s accounts payable relate to inventory purchases. During the current year, sales revenues are $790,500, cost of goods sold is $535,700, the accounts receivable balance decreases $36,000, the inventory balance increases $28,000, and the accounts payable balance decreases $19,450. What amount of cash did Acme pay to its suppliers of inventory during the year?
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