Question

Calculate the Accounts Payable balance. ​(Enter the​ balance, along with a​ "Bal." reference on the correct side of the​ T-account.)

Answer 1

Answer:

$13,000

Explanation:

Calculation for Accounts Payable balance

Accounts Payable

DEBIT SIDE

Date Amount

May 02 6,000

May 22 11,500

TOTAL $17,500

ACCOUNT PAYABLE BALANCE $13,000

($30,500-$17,500)

TOTAL $30,500

($17,500+$13,000)

CREDIT SIDE

Date Amount

May 1 21,000

May 5 500

May 15 8,500

May 23 500

TOTAL $30,500

Therefore the Accounts Payable balance will be $13,000