Hilliard Company,a small consulting firm,charges all of its operating expenses on Accounts Payable.On January 1,2016,Hilliard's Accounts Payable balance was $24,000 and,during the year,an additional $216,000 of operating expenses was charged on account.The ending Accounts Payable balance was $72,000.What is the amount of cash paid for expenses during 2016?
A)$264,000
B)$240,000
C)$168,000
D)$64,000

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The Answer of Hilliard Company,a small consulting firm,charges all of its operating expenses on Accounts Payable.On January 1,2016,Hilliard's Accounts Payable balance was $24,000 and,during the year,an additional $216,000 of operating expenses was charged on account.The ending Accounts Payable balance was $72,000.What is the amount of cash paid for expenses during 2016?
A)$264,000
B)$240,000
C)$168,000
D)$64,000

Hilliard Company,a Small Consulting Firm,charges All of Its Operating Expenses