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 |
