Business, 12.01.2022 14:00 mikkilynnpeace1982

The following information is provided for Bill Plumbing Supply: Cash received from customers during December 2020: $387,000 Cash paid to suppliers for inventory during December 2020: $131,000 Cash received from customers includes November accounts receivable of $139,000. Sales totaling $141,000 were made on account during December and are expected to be collected in January 2021. Cash paid to suppliers in December included payments of $19,000 for inventory purchased and used in November. All inventory purchased in December, and $39,000 of inventory purchased in November was used in December. Required: What is the gross margin for the month of December under accrual accounting?

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