Boone Inc Reports the Following If Cost of Goods Sold for the Year Is $150,000

Boone Inc. reports the following: $\begin{array}{lrr}&\text { End of Year }&\text { Beginning of Year }\\\text { Inventory } & \$ 25,000 & \$ 40,000 \\\text { Accounts Payable } & 30,000 & 10,000\end{array}$ If cost of goods sold for the year is $150,000, the amount of cash paid to suppliers is

A) $155,000.
B) $145,000.
C) $115,000.
D) $185,000.

Correct Answer:

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