Watson Foods,Inc.reported the following transactions for September 2019.
A.The business received $22,000 cash and issued common stock.It was credited to Common Stock.
B.The business purchased office equipment for $9,000 for which $3,500 cash was paid and the balance was put on a note payable.
C.Paid insurance expense of $1,800 cash.
D.Paid the September utility bill for $900 cash.
E.Paid $2,000 cash for September rent.
F.The business had sales of $10,000 in September.Of these sales,60% were cash sales,and the balance was credit sales.
G.The business paid $7,000 cash for office furniture.
What are the total liabilities at the end of September,2019?
A) $10,000
B) $1,800
C) $5,500
D) $9,000
Correct Answer:
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