During the Year, Yeung Inc

question 49

Multiple Choice

During the year, Yeung Inc.reported an $8,000 increase in Merchandise Inventory and a $7,000 increase in Accounts Payable.Cost of goods sold for the year was $140,000.What were the cash payments made to suppliers during the year?

• A)$155,000
• B)$141,000
• C)$139,000
• D)$125,000

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Definitions:

Long-Term Liabilities

Financial obligations of a business that are due more than one year in the future, such as bonds payable, long-term loans, and lease obligations.