Answered

Dive into the world of knowledge and get your queries resolved at IDNLearn.com. Our community is here to provide the comprehensive and accurate answers you need to make informed decisions.

Consider the following T-account for Accounts Payable.

\begin{tabular}{l|rl}
\hline
Debit & Accounts Payable & \\
\hline
& \multicolumn{2}{|c}{Credit} \\
\hline
8,300 & 10,800 & \\
\hline
& 4,400 & Balance \\
\end{tabular}

Compute the ending balance of the Accounts Payable account.

Sagot :

GinnyAnsweridn
To calculate the ending balance of the Accounts Payable account, we need to account for all debits and credits within the account.

1. Identify the debits and credits:

- Debit: \[tex]$8,300 (posted to the left side of the T-account) - Credits: \$[/tex]10,800 and \[tex]$4,400 (posted to the right side of the T-account) 2. Sum the credits: Add the credit entries together: \[ \$[/tex]10,800 + \[tex]$4,400 = \$[/tex]15,200
\]

3. Subtract the debit total from the credit total to determine the ending balance:

Calculate the difference between the sum of the credits and the debits:
[tex]\[ 15,200 - 8,300 = 6,900 \][/tex]

4. State the resulting balance:

The ending balance of the Accounts Payable account is \$6,900.
We are delighted to have you as part of our community. Keep asking, answering, and sharing your insights. Together, we can create a valuable knowledge resource. Your questions are important to us at IDNLearn.com. Thanks for stopping by, and come back for more reliable solutions.