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Selected Data for the Current Year Ended December 31 Are

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Selected data for the current year ended December 31 are as follows: Selected data for the current year ended December 31 are as follows: During the current year, the cost of merchandise sold was $620,000 and the operating expenses other than depreciation were $142,000.  The direct method is used for presenting the cash flows from operating activities on the statement of cash flows. Determine the amount reported on the statement of cash flows for: (a) cash payments for merchandise (b) cash payments for operating expenses
During the current year, the cost of merchandise sold was $620,000 and the operating expenses other than depreciation were $142,000.  The direct method is used for presenting the cash flows from operating activities on the statement of cash flows.
Determine the amount reported on the statement of cash flows for:
(a) cash payments for merchandise
(b) cash payments for operating expenses

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