Bousfield Company had $28,460 of Accounts Payable on September 1 and $25,520 on September 30. During September, the company paid total cash of $26,550 on accounts payable.
Determine the total purchases on account during September.
A) $86,410
B) $80,530
C) $23,610
D) $29,490

Question

Quizplus · Accepted Answer

Beginning A/P balance + Purchases - Payments = Ending A/P balance
$28,460 + X - $26,550 = $25,520
X = $25,520 - $28,460 + $26,550
X = $23,610

Bousfield Company Had $28,460 of Accounts Payable on September 1