Kaufman Company had a beginning normal balance of $15,000 in the accounts payable account. The accountant posted a $5,000 credit on May 6, a $2,500 credit on May 14, and a $8,000 debit on May 26. What is the balance of accounts payable in the general ledger?

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The beginning balance is a $15,000 credit. Credits increase accounts payable, and debits decrease it. After posting a $5,000 credit and a $2,500 credit, the balance increases by $7,500 to $22,500. The $8,000 debit decreases it to $14,500 credit.

Kaufman Company Had a Beginning Normal Balance of $15,000 in the Accounts