At October 1, 2022, Metz Industries had an Accounts Payable balance of $140,000.During the month, the company made purchases on account of $100,000 and made payments on account of $160,000.At October 31, 2022, the Accounts Payable balance is
A)$140,000 debit
B)$20,000 credit
C)$80,000 credit
D)$160,000 credit

Question

Quizplus · Accepted Answer

The beginning balance of $140,000 plus purchases of $100,000 minus payments of $160,000 results in an ending balance of $80,000 credit.

At October 1, 2022, Metz Industries Had an Accounts Payable