MoveLo Company had $85,380 of accounts payable on September 1 and $76,560 on September 30. During September, the company paid total cash of $79,650 on accounts payable.
Determine the total purchases on account during September.

Question

Quizplus · Accepted Answer

Beginning A/P balance + Purchases - Payments = Ending A/P balance
$85,380 + X - $79,650 = $76,560
X = $76,560 - $85,380 + $79,650
X = $70,830

MoveLo Company Had $85,380 of Accounts Payable on September 1