Question

A business has the following transactions: The business received $15,000 cash from owner contribution. The business purchases $800 of office supplies on account. The business purchases $4,000 of furniture on account. * The business renders services to various clients totaling $11,000 on account. * The business pays out $2,000 for salaries expense and $6,000 for rent expense. The business pays $800 to supplier for the office supplies purchased earlier. The business collects $3,000 from one of its clients for services rendered earlier in the month. At the end of the month, all journal entries are posted to the ledger. Accounts Payable will appear as which of the following? O A. Accounts Payable 800 4,000 4,800 Bal. OB Accounts Payable 800 4,000 800 5,600 Bal. OC. Accounts Payable 800 4,000 800 4,000 Bal. OD Accounts Payable 800 800 4,000 4,000 Bal.

Answer 1

Payable are recorded on credit side and payment are recorded on debit side of accounts payable account.

$800 and $4,000 on credit side. $800 payment on debit side.

Option D.