On May 31, Don Company had an Accounts Payable balance of $57,000. During the month of June, total credits to Accounts Payable were $34,000, which resulted frompurchases on credit. The June 30 Accounts Payable balance was $32,000. What was the amount of payments made during June?
A)$34,000.
B)$59,000.
C)$57,000.
D)$32,000.
E)$84,000.

Question

Quizplus · Accepted Answer

To find payments made during June, we need to calculate the change in Accounts Payable balance. The change in Accounts Payable balance is calculated as follows:
Beginning Accounts Payable balance + Credits − Ending Accounts Payable balance = Payments Made
$57,000 + $34,000 − $32,000 = $59,000
Therefore, the amount of payments made during June was $59,000.

On May 31, Don Company Had an Accounts Payable Balance