At October 1, 2015, Padilla Industries had an accounts payable balance of $40,000. During the month, the company made purchases on account of $33,000 and made payments on account of $48,000. At October 31, 2015, the accounts payable balance is
A)$25,000.
B)$41,000.
C)$55,000.
D)$121,000.

Question

Quizplus · Accepted Answer

The accounts payable balance at the end of October is calculated by taking the beginning balance, adding purchases, and subtracting payments: $40,000 + $33,000 - $48,000 = $25,000.

At October 1, 2015, Padilla Industries Had an Accounts Payable