What will be the balance in the general accounting payable accounts after payment? Blue wave Manufacturing purchased raw materials worth $50,000on credit. Later, it paid $20,000 in cash towards the outstandingbalance. What will be the balance in the Accounts Payable accountafter the payment?

Step 1: Definition of Accounts PayableAccounts Payable (AP) refers to the amount a company owes to…

Answered: Blue wave Manufacturing purchased raw…

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets

Section: Chapter Questions

Problem 6AP

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Blue wave Manufacturing purchased raw materials worth $50,000 on credit. Later, it paid $20,000 in cash towards the outstanding balance. What will be the balance in the Accounts Payable account after the payment?