Maldanado Company has a balance in its Accounts Payable control account of P10,500 on January 1,2021. The subsidiary ledger contains three acounts: Smith Company, balance P3,000; White Company, balance P2,500 and Marino Company, balance P5,000. During January, the following payable-related transactions occured. SMITH COMPANY Purchases: P7,500 Payment: P6,000 Returns: P0 WHITE COMPANY: Purchases: P5,250 Payment: P2,500 Returns: P1,500 MARINO COMPANY: Purchases: P6,100 Payment: P6,750 Returns: P0 How much is the general ledger balance of the Accounts Payable as of January 31, 2021?
Maldanado Company has a balance in its Accounts Payable control account of P10,500 on January 1,2021. The subsidiary ledger contains three acounts: Smith Company, balance P3,000; White Company, balance P2,500 and Marino Company, balance P5,000. During January, the following payable-related transactions occured. SMITH COMPANY Purchases: P7,500 Payment: P6,000 Returns: P0 WHITE COMPANY: Purchases: P5,250 Payment: P2,500 Returns: P1,500 MARINO COMPANY: Purchases: P6,100 Payment: P6,750 Returns: P0 How much is the general ledger balance of the Accounts Payable as of January 31, 2021?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Maldanado Company has a balance in its Accounts Payable control account of P10,500 on January 1,2021. The subsidiary ledger contains three acounts: Smith Company, balance P3,000; White Company, balance P2,500 and Marino Company, balance P5,000. During January, the following payable-related transactions occured.
SMITH COMPANY
Purchases: P7,500
Payment: P6,000
Returns: P0
WHITE COMPANY:
Purchases: P5,250
Payment: P2,500
Returns: P1,500
MARINO COMPANY:
Purchases: P6,100
Payment: P6,750
Returns: P0
How much is the general ledger balance of the Accounts Payable as of January 31, 2021?
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