Find how much will nunnally report as accounts payable

Reference no: EM139772

Nunnally Manufacturing Company has furnished the following information which occurred during May:

Accounts Payable balance at April 30	$29,000
Purchases on account during May	150,000
Cash payments for materials purchased in April	29,000
Cash payments for materials purchased in May	135,000

The accounts payable account is used only for direct materials. How much will Nunnally report as accounts payable on their balance sheet at the end of May?

1. $21,000

2. $103,000

3. $8,000

4. $15,000

Reference no: EM139772

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