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Question
Guenther bought merchandise for his retail business on credit and sold some of it for cash. To record his purchases on his cash flow statement, Guenther will:
a. subtract the cash sales of this new inventory from total inventory purchased.
b. subtract the increase in accounts payable from the increase in inventory.
c. subtract the increase in inventory from the increase in accounts payable.
d. subtract the decrease in accounts receivable from the increase in inventory.
Answer
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