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The balance in Star Co.'s accounts payable account at December 31 was $890,000 before any necessary year-end adjustments relating to the following: - Goods were
The balance in Star Co.'s accounts payable account at December 31 was $890,000 before any necessary year-end adjustments relating to the following: - Goods were in transit to Star from a vendor on December 31. The invoice cost was $25,000. The goods were shipped f.o.b. shipping point on December 29 and were received the following January 4 . The invoice was recorded when the goods were received. - Goods shipped f.o.b. destination on December 21 from a vendor to Star were received on January 7 . The invoice cost was $32,000. The invoice was recorded when the goods were received. - On December 29 , Star wrote and recorded checks to creditors totaling $42,000. The checks were mailed on January 10. What is the proper balance for accounts payable on Star's December 31 balance sheet? $957,000$989,000$932,000$915,000
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