At October 1 2016 Medina Co. had an accounts payable balance of $50000. During the month the company made purchases on account of $35000 and made payments on account of $48000. At October 31 2016 the accounts payable balance is

A) $37000.
B) $33000.
C) $63000.
D) $133000.

Question

Jennavie Semedo · Accepted Answer

Final Answer : A, Explanation :  The accounts payable balance at the end of October can be calculated by starting with the initial balance ($50,000), adding purchases made on account ($35,000), and subtracting payments made ($48,000). This results in a new balance of $37,000 ($50,000 + $35,000 - $48,000).

At October 1 2016 Medina Co. had an accounts payable balance of $50000. During the month the company made purchases on account of $35000 and made payments on account of $48000. At October 31 2016 the accounts payable balance is

A) $37000.
B) $33000.
C) $63000.
D) $133000.

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Related questions

At October 1 2016 Medina Co. had an accounts payable balance of $50000. During the month the company made purchases on account of $35000 and made payments on account of $48000. At October 31 2016 the accounts payable balance isA) $37000.B) $33000.C) $63000.D) $133000.

Definitions

Learning Objectives

Learning Objectives

Related questions

At October 1 2016 Medina Co. had an accounts payable balance of $50000. During the month the company made purchases on account of $35000 and made payments on account of $48000. At October 31 2016 the accounts payable balance is

A) $37000.
B) $33000.
C) $63000.
D) $133000.