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Shula Company reported a balance in Accounts Payable of $124,000 on 1/1, Year 2. During Year 2, Shula paid $455,000 to its suppliers from whom
Shula Company reported a balance in Accounts Payable of $124,000 on 1/1, Year 2. During Year 2, Shula paid $455,000 to its suppliers from whom Shula had puurchased goods. On 12/31, Year 2, Shula reported a balance in Accounts Payable of $181,000. How much were Shula's purchases on account for Year 2? A. $398,000. B. $512,000. C. $518,000. D. $525,000. E. $636,000.
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