Hilliard Company,a Small Consulting Firm,charges All of Its Operating Expenses

Multiple Choice

Hilliard Company,a small consulting firm,charges all of its operating expenses on Accounts Payable.On January 1,2016,Hilliard's Accounts Payable balance was $24,000 and,during the year,an additional $216,000 of operating expenses was charged on account.The ending Accounts Payable balance was $72,000.What is the amount of cash paid for expenses during 2016?

A) $264,000
B) $240,000
C) $168,000
D) $64,000