During the Month of March, Cooley Computer Services Made Purchases

question 162

Multiple Choice

During the month of March, Cooley Computer Services made purchases on account totaling $43,500. Also during the month of March, Cooley was paid $8,000 by a customer for services to be provided in the future and paid $36,900 of cash on its accounts payable balance. If the balance in the accounts payable account at the beginning of March was $77,300, what is the balance in accounts payable at the end of March?

• A) $83,900.
• B) $91,900.
• C) $6,600.
• D) $75,900.
• E) $4,900.

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Definitions:

Promisor

The party in a contract who has made a promise to perform an action or service for the other party, known as the promisee.

Donee Beneficiary

A third party that benefits from a contract between two other parties, especially in cases where a party promises to make a gift or confer a benefit to someone who is not a party to the contract.

Stockbroker

A professional who buys and sells stocks and other securities on behalf of clients, typically for a commission or fee.

Valentine's Gift

A present given to express affection or love on Valentine's Day, typically symbolizing romantic interest or appreciation.