The accounts payable account has a beginning balance of $12,000 and we purchased $50,000 of inventory on credit during the month. The ending balance was $10,000. How much did we pay our creditors during the month? Group of answer choices a)$50,000 b)$52,000 c)$60,000 d)$62,000 e)None of the above

The accounts payable account has a beginning balance of $12,000 and we purchased $50,000 of inventory on credit during the month. The ending balance was $10,000. How much did we pay our creditors during the month? Group of answer choices a)$50,000 b)$52,000 c)$60,000 d)$62,000 e)None of the above

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Group of answer choices

a)$50,000

b)$52,000

c)$60,000

d)$62,000

e)None of the above

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