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What balance for accounts payable in the financial budget

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Reference no: EM132106019

Question - Randy Co.'s operating budget for 2016 showed the following expenses credited to Accounts Payable, which had a balance of $30,000 on January 1, 2016.

In addition, the planned cash disbursements schedule showed planned payments of outstanding accounts of $40,000 in the first quarter and $45,000 in the second quarter. What balance for Accounts Payable as of the end of the second quarter would be reflected in the financial budget?

A. $27,000

B. $38,000

C. $29,000

D. $31,000

Reference no: EM132106019

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