Question 87 1 pts Accounts payable would be reported in the sheet section of the December...

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Ans to Question 87:

Accounts payable would be reported in the current liabilities section of the December 31, 2019, balance sheet.

Justification: First two option (current asset & property, plant and equipment) will not consider because account payable is of liability in nature and the first two option is of the asset in nature.

Second last option (long-term liabilities) will also not to be considered, because account payable is of short-term.

Last option (owner's equity) shall not be considered, because account payable is of liability in nature not equity.

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Question 87 1 pts Accounts payable would be reported in the sheet section of the December...

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