St. Clair Motor Supplies had the following transactions during December:
$\bullet$Paid a note of $17,000 owed since March plus $425 for interest.
$\bullet$Sold $36,525 of merchandise to customers on account. Cost of goods sold was $21,250.
$\bullet$Paid accounts payable of $2,050.
As a result of these transactions, at year-end, liabilities and stockholders' equity would show a total:
A) Decrease by $4,575
B) Decrease by $4,200
C) Decrease by $4,800
D) Increase by $13,425

Question

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The Answer of St. Clair Motor Supplies had the following transactions during December:
$\bullet$Paid a note of $17,000 owed since March plus $425 for interest.
$\bullet$Sold $36,525 of merchandise to customers on account. Cost of goods sold was $21,250.
$\bullet$Paid accounts payable of $2,050.
As a result of these transactions, at year-end, liabilities and stockholders' equity would show a total:
A) Decrease by $4,575
B) Decrease by $4,200
C) Decrease by $4,800
D) Increase by $13,425

St Clair Motor Supplies Had the Following Transactions During December ∙\bullet∙

St Clair Motor Supplies Had the Following Transactions During December $\bullet$