Goldman Corp Assuming All Purchases Are on Credit,how Much Cash Was Paid

question 140

Multiple Choice

Goldman Corp.reported the following information for 2017 and 2018. $\begin{array}{lr}\text { Accounts payable, December } 31,2017 & \$ 51,000 \\\text { Accounts payable, December } 31,2018 & 46,000 \\\text { Purchases-2018 } & 467,000\end{array}$
Assuming all purchases are on credit,how much cash was paid for merchandise during 2018?

• A)$421,000
• B)$462,000
• C)$467,000
• D)$472,000

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