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All inventories are purchased on credit. On the basis of the following accounting records information, the amount paid to the trade creditors is: opening balance
All inventories are purchased on credit. On the basis of the following accounting records information, the amount paid to the trade creditors is: opening balance of inventories $72,000; closing balance of inventories $70,000; cost of goods sold $470,000; opening balance of trade creditors $12,000, closing balance of trade creditors $15,000; discount received from creditors $1,000 Select one: a. $142 000 b. $468 000 c. $470 000 d. $464 000
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