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1. on june 1, 2015, planet music has accounts payable of $45,000. during the month, debits of $3,000 and credits of $11,000 were made to the account. at the end of june 2015, what was the accounts payable balance? a credit balance of $53,000 a debit balance of $42,000 a credit balance of $56,000

Respuesta :

Accounts Payable balance at the end of June 2015 = Beginning balance +     Credits (On account purchases) - Debits (Cash paid)

= $ 45000 + 11000 - 3000

= $ 53,000 Credit

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