Purchases on Account Are Given Below 55% of the Month's Purchases Will Be Paid in the |

Purchases on account are given below: $$\begin{array} { | r | r | r | } \hline \text { October } & \text { November } & \text { December } \\\hline 30,000 & 40,000 & 50,000 \\\hline\end{array}$$ 55% of the month's purchases will be paid in the month of the purchase; the remaining 45% will be paid in the following month.
The accounts payable balance at the beginning of the year was $85,000. The company purchased $380,000 worth of goods on account, and the ending balance of the payables account was $70,000.
What were the total payments on account?

A) $450,000
B) $395,000
C) $535,000
D) $465,000

Correct Answer:

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