During the month of June, Lighthouse Logistics LLC made purchases on account totalling $78,000. Also, during June, Lighthouse received $22,000 in cash from a customer for services to be provided later, and paid $39,000 in cash toward its accounts payable. If the balance in accounts payable at the beginning of June was $88,000, what is the balance in accounts payable at the end of June?

During the month of June, Lighthouse Logistics LLC made purchases on account totalling $78,000. Also, during June, Lighthouse received $22,000 in cash from a customer for services to be provided later, and paid $39,000 in cash toward its accounts payable. If the balance in accounts payable at the beginning of June was $88,000, what is the balance in accounts payable at the end of June?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 12Q: Berry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales...

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