Stockton-Meadows Incorporated Reports an Increase in Accounts Payable of $9,200

question 105

Multiple Choice

Stockton-Meadows Incorporated reports an increase in Accounts Payable of $9,200 and an increase in inventory of $45,000 for the current year. Accounts Payable relates solely to the purchase of merchandise. Sales on account were $532,100 and cost of goods sold was $358,000. The payments to suppliers for inventory during the period were:

• A)$393,800.
• B)$303,800.
• C)$412,200.
• D)$322,200.

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Definitions:

Weekly Interest Rate

An interest rate quoted or applied on a weekly basis, often used in short-term loans or savings accounts to indicate the rate of interest over a week's period.

Marketable Securities

Financial instruments that can be quickly converted to cash at market value.

Monthly Standard Deviation

A statistical measure that quantifies the variability or volatility of returns over a monthly period.

Cash Limit

Typically refers to the maximum amount of cash or cash equivalent that a person or entity can withdraw or use under certain conditions.