Purchases on Account Are Given Below 55% of the Month's Purchases Will Be Paid in the |

question 75

Multiple Choice

Purchases on account are given below: $$\begin{array} { | r | r | r | } \hline \text { October } & \text { November } & \text { December } \\\hline 30,000 & 40,000 & 50,000 \\\hline\end{array}$$ 55% of the month's purchases will be paid in the month of the purchase; the remaining 45% will be paid in the following month.
The accounts payable balance at the beginning of the year was $85,000. The company purchased $380,000 worth of goods on account, and the ending balance of the payables account was $70,000.
What were the total payments on account?

• A) $450,000
• B) $395,000
• C) $535,000
• D) $465,000

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Definitions:

Chemical Sense

A type of sensory perception, including taste and smell, that allows organisms to detect chemical substances in their environment.

Vestibular Sense

The sensory system that contributes to balance and spatial orientation by sensing gravity and motion.

Kinesthesis

The sense of movement and body position, allowing individuals to be aware of their limbs and body parts in space without having to see them.

Audition

Audition, or hearing, is the sense and process by which sound waves are detected by the ear and transmitted to the brain for interpretation, enabling sound perception.