At January 1 2008 KA enterprises reported accounts payable o

At January 1, 2008, KA enterprises reported accounts payable of $5,000. During the month, KA made purchase on account from vendors totaling $7,000. At the end of January, the balance in accounts payable is $8,000. What amount did KA pay vendors during January?

Solution

Calculate amount pay to vendors :

5000

KA pay vendors during january is $4000

Beginning balance

5000

Add: Purchase on account 7000
Less: Ending balance of account payable -8000
Amount pay to vendors during january 4000
At January 1, 2008, KA enterprises reported accounts payable of $5,000. During the month, KA made purchase on account from vendors totaling $7,000. At the end o

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