At the beginning of the month, the Floyd Company began when owners invested $80,000 and then during the month the company had the following transactions: Purchased equipment for $800 on account Sold $3,000 of services to customers on account Borrowed $500 from a bank Received a utility bill for $500; will be paid next month Purchased supplies for $100 Paid employee payroll of $5,500 What are the company's total liabilities at the end of the month?

Answer rating: 100% (QA)

To calculate the companys total liabilities at the end of the month we need to consider the transact... View the full answer