Business, 03.05.2021 20:10 ciarra31

The income statement for Jones Company showed cost of goods sold of $80,000 and operating expenses of $65,000. The comparative balance sheets for the year show that inventory decreased $5,000, prepaid expenses increased $7,000, accounts payable increased $3,000, and accrued expenses payable decreased $5,000. Compute cash payments to suppliers and cash payments for operating expenses using the direct method. Cash payments to suppliers $ Cash payments for operating expenses

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The income statement for Jones Company showed cost of goods sold of $80,000 and operating expenses o...