If the accounts payable subsidiary ledger shows the following balances on 31 July 2014, what is the balance in the accounts payable control account on the same date? (Assuming recording and balancing of accounts payable records are up to date.)
$\bullet$Wilson $ 9320
$\bullet$Watson $6255
$\bullet$Zhang $ 700

Question

Quizplus · Accepted Answer

The balance in the accounts payable control account is the sum of all individual balances in the accounts payable subsidiary ledger. Adding up the balances for Wilson ($9320), Watson ($6255), and Zhang ($700) gives a total of $16,275. This amount represents the total credit balance in the accounts payable control account, as accounts payable is a liability account and typically has a credit balance.

If the Accounts Payable Subsidiary Ledger Shows the Following Balances ∙\bullet∙

If the Accounts Payable Subsidiary Ledger Shows the Following Balances $\bullet$