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Determine the amount of inventory purchases on account

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Reference no: EM132573032

Question 1: If a company's accounts payable balance at the beginning and end of a year amounted to $1,000 and $1,200, respectively, determine the amount of inventory purchases on account for the year if payments on accounts payable for the year totaled $6,500.

Group of answer choices

Option A. $6,300

Option B. $6,500

Option C. $6,700

Option D. $7,500

Reference no: EM132573032

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