Question

During the month of March, Harley's Computer Services made purchases on account totaling $44,900. Also during the month of March, Harley was paid $10,100 by a customer for services to be provided in the future and paid $37,600 of cash on its accounts payable balance. If the balance in the accounts payable account at the beginning of March was $78,000, what is the balance in accounts payable at the end of March?
a. $7,300.
b. $5,600.
c. $95,400.
d. $75,200.
e. $85,300.

Answer 1

Answer:

e. $85,300.

Explanation:

ending accounts payable

= beginning accounts payable + purchases - payment of accounts payable

= $78,000 + $44,900 - $37,600

= $85,300

Therefore, The balance in accounts payable at the end of March is $85,300.