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Determine what is the value of better than that purchases

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Problem 1: Suppose that the beginning balance of Accounts Payable (A/P) for Better Than That, Inc. on January 1, 2017 was $17,934. The ending balance of accounts payable on December 31, 2017 was $12,603. During 2017, Better Than That paid $20,338 in cash to its creditors. What is the value of Better Than That's purchases on credit in 2017?

Option 1: $5,331

Option 2: $10,199

Option 3: $15,007

Option 4: $25,669

Reference no: EM132615595

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