Use the Information Below to Answer the Following Questions:
Pinkerton

question 32

Multiple Choice

Use the information below to answer the following questions:
Pinkerton Ltd uses a perpetual control system for its inventory. It had the following data for a recent period:
$$\begin{array} { l r l c } & \$ & & \$ \\\text { Beginning accounts receivable } & 100000 & \text { Sales (all credit) } & 720000 \\\text { Beginning accounts payable } & 70000 & \text { Cash received from customers } & 680000 \\\text { Beginning inventory } & 160000 & \text { Cash paid to suppliers } & 380000 \\\text { Purchases (all credit) } & 350000 & & \\\text { Ending inventory count } & 90000 & &\end{array}$$
-What was the balance of Pinkerton Ltd's accounts payable at the end of the period?

• A) $20 000
• B) $40 000
• C) $90 000
• D) $100 000

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