Question

Acme enterprises began the new year owing its suppliers $3,000 for merchandise purchased last year. Acme then sold half of this merchandise for $5,000 on account. Two weeks later, acme paid its suppliers $1,000 and bought another $4,000 of merchandise on account. Acme now has an accounts payable balance of ______.

Answer 1

Answer:

$8500

Explanation:

Beg AP bal = 3000

Sold 1/2 of merch on acct = add 2500

Paid suppliers = subtract 1000

Bought more merch on acct = add 4000

3000 + 2500 - 1000 + 4000 = 8500

Ending AP bal = 8500