Selected Balance Sheet account balances are: WU COMPANY De cember 31 2012 011 Cash $ 37,000$ 16, 26,000 220,0 32,000 192,000 7,000 85,000 63,000 98,000 28,000 1,000 ccounts Payable counts Receivable Salaries Payable Land Merchandise Inventory Machinery Prepaid Rent Income Taxes Payable 13,000 70,000 76,000 72,000 17,00 4,00 Selected Income Statement and other items for the year 2012 are: 943,000 504,000 200,000 30,000 20,000 54,000 90,000 35,000 es Cost of Goods Sold Salary Expense Gain on Sale of Machine Cash Dividends declared and paid Depreciation Expense Rent Expense Income Taxes Expense Cash payments to suppliers for merchandise inventory during 2012 amounted to $ 523,000. O $ 497,000 O $ 485,000. $511,000. O none of the above.
Answer is $485000
| Cost of Goods Sold | 504000 |
| Add Ending Merchandise Inventory | 63000 |
| Less Opening Merchandise Inventory | 76000 |
| Cost of Goods Purchased | 491000 |
| Add Opening Account Payable | 26000 |
| Less Closing Account Payable | 32000 |
| Cash Payment to Supplier | 485000 |
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