Question

Save Homework: Module 2 Intro Assignment Score: 0 of 3 pts 4 of 11 (3 complete) S2-4 (similar to) Question Help Accounts Payable May 2 8 ,500 13,000 May 1 May 22 12,000 400 May 5 8,000 May 15 450 May 23 Calculate the Accounts Payable balance. (Enter the balance, along with a "Bal" reference on the correct side of the T-account.) May 2 May 22 Accounts Payable 8 ,500 13,000 May 1 12,000 400 May 5 8,000 May 15 450 May 23 Choose from any list or enter any number in the input fields and then click Check Answer.

Answer 1

		We can calculate the closing balance of Accounts payable as follows
		The Answer is $ 1350
	Accounts Payable A/c
	Date	Particulars	Amount (Debit) $	Date	Particulars	Amount (Credit) $
	May 2		8,500	May 1	By opening balance	13,000
	May 22		12,000	May 5		400
	31-May	To Closing balance (i.e. 21,850-20,500)	1,350	May 15		8,000
				May 23		450
		Total	21,850		Total	21,850	-