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During May, $245,000 Was Paid to Creditors on Account, and Purchases

Question 103

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During May, $245,000 was paid to creditors on account, and purchases on account were $210,500. Assuming the May 31 balance of Accounts Payable was $62,800, what was the account balance on May 1.

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+ $210,500 āˆ’ $245,0...

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