The following selected account balances appeared on the financial statements of the Franklin Company. Use...

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Accounting

The following selected account balances appeared on the financial statements of the Franklin Company. Use these balances to answer the question that follow.

Accounts Receivable, Jan. 1 $14,908
Accounts Receivable, Dec. 31 7,421
Accounts Payable, Jan. 1 4,441
Accounts Payable, Dec. 31 9,329
Inventory, Jan. 1 7,409
Inventory, Dec. 31 14,882
Sales 66,027
Cost of Goods Sold 32,975

The Franklin Company uses the direct method to calculate net cash flow from operating activities. Assume that all accounts payable are owed to merchandise suppliers. Find the cash payments for merchandise.

Select the correct answer.

$35,574

$32,975

$32,989

$35,560

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