At October 1, 2011, Padilla Industries had an accounts payable balance of $30,000.During the month, the company made purchases on account of $25,000 and made payments on account of $40,000.At October 31, 2011, the accounts payable balance is

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The accounts payable balance is calculated by taking the beginning balance, adding purchases, and subtracting payments. Starting with $30,000, adding $25,000 in purchases, and subtracting $40,000 in payments results in a balance of $15,000.

At October 1, 2011, Padilla Industries Had an Accounts Payable