Accounts Payable had a normal starting balance of $800.There were debit postings of $600 and credit postings of $300 during the month.The ending balance is:
A) $500 credit.
B) $1,000 debit.
C) $500 debit.
D) $1,000 credit.
Correct Answer:
Verified
Q1: Selected accounts from the ledger of
Q4: Explain the difference between expenses and withdrawals.
Q5: Accounts receivable increases on the debit side
Q6: An account is said to have a
Q11: The beginning balance in the Computers account
Q15: Revenues are recorded when earned.
Q21: A chart of accounts
A) is set up
Q30: An accounting device used to record increases
Q34: A compound entry is
A) a transaction involving
Q40: A ledger
A) is a group of accounts
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents