Question
On January 1st Jah'lil Optometry had a beginning balance in accounts payable of $19,000 credit. During the year Jah'lil Optometry bought inventory of $7,268 on
On January 1st Jah'lil Optometry had a beginning balance in accounts payable of $19,000 credit.
During the year Jah'lil Optometry bought inventory of $7,268 on account. In addition, during the year Jah'lil Optometry provided $5,000 of services and the customers paid on account.
Jah'lil Optometrys ending balance in its accounts payable account was $14,000 credit on December 31st.
How much total cash did Jah'lil Optometry use to pay off outstanding accounts payable debt during the year?
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Modern Analytical Auditing Practical Guidance For Auditors And Accountants
Authors: Thomas Mckee
1st Edition
0899303544, 978-0899303543
