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 $50,000 $52,000 $60,000 $62,000 None of the above is correct

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 $50,000 $52,000 $60,000 $62,000 None of the above is correct

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

$50,000

$52,000

$60,000

$62,000

None of the above is correct

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