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Q 3.58: A business starts the month with an Accounts Payable account with a normal balance of $1,000. During the month, the business recorded invoices
Q 3.58: A business starts the month with an Accounts Payable account with a normal balance of $1,000. During the month, the business recorded invoices received from suppliers with credits to the Accounts Payable account in the amount of $7,000. The business sent payments to suppliers and debited the Accounts Payable account $6,000. At the end of the month the balance in the Accounts Payable account was A $2,000. B $1,000. C $14,000. D $8,000
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