At October 1, 2021, Swifty Industries had an accounts payable balance of $41100. During the month, the company made purchases on account of $33900 and made payments on account of $47000. At October 31, 2021, the accounts payable balance is $122000. $54200. $28000. $39800.
At October 1, 2021, Swifty Industries had an accounts payable balance of $41100. During the month, the company made purchases on account of $33900 and made payments on account of $47000. At October 31, 2021, the accounts payable balance is $122000. $54200. $28000. $39800.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Accounts payable (AP) are amounts owed to vendors or suppliers for goods or services not yet paid for. The accounts payable balancing act on the company's balance sheet is the total of all outstanding amounts owed to vendors.
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