year- On December 27, 2012, Dole wrote and recorded checks to creditors totaling $350,000 causing an overdraft of $100,000 in Dole's bank account at Decembe 2012. The checks were mailed out on January 10, 2013. On December 28, 2012, Dole purchased and received goods for $150,000, 2/10, n/30. Dole records purchases and accounts payable at net amounts. The in was recorded and paid January 3, 2013. Goods shipped f.o.b. destination on December 20, 2012 from a vendor to Dole received January 2, 2013. The invoice cost was $65,000. At December 31, 2012, what amount should Dole report as total accounts payable? a. $1,212,000. b. $1,147,000. c. $900,000. d. $800,000.

year- On December 27, 2012, Dole wrote and recorded checks to creditors totaling $350,000 causing an overdraft of $100,000 in Dole's bank account at Decembe 2012. The checks were mailed out on January 10, 2013. On December 28, 2012, Dole purchased and received goods for $150,000, 2/10, n/30. Dole records purchases and accounts payable at net amounts. The in was recorded and paid January 3, 2013. Goods shipped f.o.b. destination on December 20, 2012 from a vendor to Dole received January 2, 2013. The invoice cost was $65,000. At December 31, 2012, what amount should Dole report as total accounts payable? a. $1,212,000. b. $1,147,000. c. $900,000. d. $800,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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