During February, $189,000 was pai to creditors on account, and purchases on account were $ 209,400. Assuming the February 28 balance of Accounts Payable was $ 65,400, determine the account

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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During February, $189,000 was paid
to creditors on account, and
purchases on account were $
209,400. Assuming the February 28
balance of Accounts Payable was $
65,400, determine the account
balance on February 1. Round your
answer to the nearest dollar.
Transcribed Image Text:During February, $189,000 was paid to creditors on account, and purchases on account were $ 209,400. Assuming the February 28 balance of Accounts Payable was $ 65,400, determine the account balance on February 1. Round your answer to the nearest dollar.
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