Martin Company had $113,500 of Accounts Payable on March 31, 2019. During March, the company made total purchases on account of $193,740, and paid a total of $210,460 cash on accounts payable.
Determine the balance of Accounts Payable on March 1, 2019.
A) $130,400
B) $130,220
C) $ 6,780
D) $290,700

Question

Quizplus · Accepted Answer

Beginning A/P balance + Purchases - Payments = Ending A/P balance
X + $193,740 - $210,460 = $113,500
X = $113,500 - $193,740 + $210,460
X = $130,220

Martin Company Had $113,500 of Accounts Payable on March 31