The income statement for Electronic Wonders reports net sales of $91,618 million and cost of goods sold of $69,138 million. An examination of balance sheet amounts indicates accounts receivable increased $1,719 million, inventory increased $869 million, and accounts payable to suppliers decreased $1,953 million. Required: Using the direct method, calculate (1) cash received from customers and (2) cash paid to suppliers.
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The income statement for Electronic Wonders reports net sales of $91,618 million and cost of goods s...
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