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On 1/1/2020, Arlo Corp. had a beginning Accounts Payable account balance of $3,000. During 2020, the Accounts Payable account was increased by $10,000 and decreased

On 1/1/2020, Arlo Corp. had a beginning "Accounts Payable" account balance of $3,000. During 2020, the "Accounts Payable" account was increased by $10,000 and decreased by $12,000. Required: Complete the following statement by describing the ending balance of its "Accounts Payable" account? (Note: There are two blank spots to complete) Answer: At the end of 2020, the "Accounts Payable" account has an ending balance of $

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