Question

Calculate the Accounts Payable balance. ​(Enter the​ balance, along with a​ "Bal." reference on the correct side of the​ T-account.) Accounts Payable May 2 7,500 13,000 May 1 May 22 12,000 400 May 5 7,500 May 15 200 May 23

Answer 1

Answer and Explanation:

The computation of the account payable balance is given below:

Account Payable balance on month end is

= 13,000 + 400 + 7500 + 200 - 7500 - 12000

= $1,600

Hence, the account payable balance is $1,600

The same is to be reflected on the debit side of account payable T account

The same is to be considered