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Goldman Corp Assuming All Purchases Are on Credit,how Much Cash Was Paid

Question 140

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Goldman Corp.reported the following information for 2017 and 2018.  Accounts payable, December 31,2017$51,000 Accounts payable, December 31,201846,000 Purchases-2018 467,000\begin{array}{lr}\text { Accounts payable, December } 31,2017 & \$ 51,000 \\\text { Accounts payable, December } 31,2018 & 46,000 \\\text { Purchases-2018 } & 467,000\end{array}
Assuming all purchases are on credit,how much cash was paid for merchandise during 2018?


A) $421,000
B) $462,000
C) $467,000
D) $472,000

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