Consider the Following Transactions: I

question 3

Multiple Choice

Consider the following transactions: I. Borrowed cash on a note payable, $80,000
II. Provided services on account, $10,000
III. Received cash from a customer as payment on account, $8,000
IV. Received a utility bill, $1,200
Total liabilities would be:

• A)$1,200.
• B)$81,200.
• C)$98,000.
• D)$80,000.