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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
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