[nammu12]

12. 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?
a. $50,000
b. $150,000
c. $200,000
d. $300,000
e. $350,000

I believe answer is "D" Please confirm.

[CaptainForest]

Aug 31/02 = 200,000
Sept 1/02 = +100,000
Sept 25/02 = +50,000
Sept X/02 = -50,000
Sept 30/02 = 300,000

Therefore, total liabilities as at September 30, 2002 were $300,000, or Answer D