Solved: What is the balance of accounts payable, Accounting Basics

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What is the balance of accounts payable

Response to the following problem:

Catspaw Hospital provides you with the following information:

Accounts payable, December 31, 20X2 $45,000

Purchases of supplies on account during 20X2 316,000

Payments on accounts payable during 20X2 301,000

Required: What was the balance of accounts payable at December 31, 20X1?

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Accounting Basics: What is the balance of accounts payable

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Accounting Basics: What is the balance of accounts payable

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