Your payables control account has balance at October 20X8 of $35000 credit_ During October, credit purchases were 67000 cash purchases were $3000 and payments made to suppliers_ excluding cash purchases and after deducting settlement discounts of 1,200 were $56000. Purchase returns were 3600._ What was the closing balance?'

Your payables control account has balance at October 20X8 of $35000 credit_ During October, credit purchases were 67000 cash purchases were $3000 and payments made to suppliers_ excluding cash purchases and after deducting settlement discounts of 1,200 were $56000. Purchase returns were 3600._ What was the closing balance?'

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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