Xct manufacturing co increased its merchandise inventory by

Reference no: EM13575369

XCT Manufacturing Co. increased its merchandise inventory by $17,000 over the year. The company also granted its customers more liberal credit terms which increased the accounts receivable by $37,500. Sales were $975,000 and the accounts payable decreaseed by $27,500. The gross profit on sales is 45%. Selling and administrative expenses were $145,000; this included depreciation expense of $4,000. What were the cash disbursements for the year?

Reference no: EM13575369

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