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Question - The following information is available for Kringle Company. What amount of cash was paid for merchandise during 2018?
Cost of goods sold $535,000
Merchandise inventory, 12/31/17 95,000
Merchandise inventory, 12/31/18 132,000
Accounts Payable, 12/31/17 98,500
Accounts Payable, 12/31/18 99,300
a) $571,200
b) $572,800
c) $498,800
d) $535,000
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