How much cash was paid to suppliers

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Reference no: EM132643721

Question - Given this information:

2019 2020

Cash $4,000 $2,400

Accounts payable $3,200 $4,000

Accounts receivable $14,000 $16,200

Wages payable $800 $1,000

Inventory $8,200 $7,900

Utilities payable $1,400 $2,000

Prepaid insurance $1,200 $1,600

Note payable $40,000 $36,000

Equipment $42,000 $47,900

Interest payable $1,600 $1,800

Accum. Depreciation ($12,400) ($14,400)

Common stock $12,000 $12,000

Land $10,200 $4,700

Retained earnings $8,200 $9,500 $67,200 $66,300 $67,200 $66,300

Required - How much cash was paid to suppliers during 2020 if purchases were $41,000?

a. $40,200

b. $40,500

c. $41,800

d. $41,400

e. None of the above

Reference no: EM132643721

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