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A consulting firm bills clients for services rendered. Calculate the accounts payable balance as of May 31st, considering the following: Services provided in May: $15,000

 A consulting firm bills clients for services rendered. Calculate the accounts payable balance as of May 31st, considering the following:

  • Services provided in May: $15,000
  • Terms of payment: Net 30 days
  • Beginning accounts payable balance: $5,000
  • Payments made during May: $10,000

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