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compute estimates of cash receipts from customers and cash payments to suppliers ass 621855

Compute cash flows from accrual numbers

Excerpts from the 2008 financial statements of SUPERVALU supermarkets are as follows (dollars in millions):

2008

2007

Sales

$44,564

$44,048

Cost of sales

34,451

33,943

Accounting receivable

887

965

Inventory

2,709

2,776

Accounts payable

2,441

2,579

Compute estimates of cash receipts from customers and cash payments to suppliers. Assume that all sales are on account and that accounts payable includes only accounts with suppliers.

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