The total on the "Accounts Payable Creditor Balances" report at January 31, the end of the first month of operations, agrees with the total of the Accounts Payable Dr. column in the cash payments journal for the same period.

Question

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The "Accounts Payable Creditor Balances" report reflects the total amount owed to suppliers at a point in time, while the Accounts Payable Dr. column in the cash payments journal records the cash payments made to suppliers during a period, not the total amount owed.

The Total on the "Accounts Payable Creditor Balances" Report at January