Nunnally manufacturing company has furnished the following

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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: EM13355553

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