Georgia Tent Company’s total liabilities on August 31, 2002 were $200,000. On September 1, 2002, the Georgia Tent Company purchased $100,000 of supplies on account from Camper World. On September 25, 2002, Georgia Tent purchased an additional $50,000 of supplies on account from Rural Vendors. Georgia Tent paid $50,000 of outstanding liabilities in September. What were Georgia Tent’s total liabilities at September 30, 2002?

August 31, 2002 were $200,000
September 1, 2002 purchased $100,000 of supplies on account
September 25, 2002 purchased an additional $50,000 of supplies on account
Georgia Tent paid $50,000 of outstanding liabilities in September
total liabilities at September 30, 2002?

200,000 + 100,000 + 50,000 – 50,000 = $300,000