If beginning Accounts Payable is $10,000 and the purchases on account are $100,000 and payments made were $80,000 during the period,then the ending Accounts Payable balance is:
A) $30,000 credit
B) $20,000 credit
C) $20,000 debit
D) $30,000 debit

Question

Quizplus · Accepted Answer

The ending Accounts Payable balance is calculated as: Beginning balance ($10,000) + Purchases on account ($100,000) - Payments made ($80,000) = $30,000 credit.

If Beginning Accounts Payable Is $10,000 and the Purchases on Account