G during february, $186,500 was paid to creditors on account, and purchases on account were $201,400. assuming the february 28 balance of accounts payable was $59,900, determine the account balance on february 1.

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14-01-2018
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G during february, $186,500 was paid to creditors on account, and purchases on account were $201,400. assuming the february 28 balance of accounts payable was $59,900, determine the account balance on february 1.

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Kalahira Kalahira · Answer 1 · 2018-01-26T23:39:14+01:00

Kalahira Kalahira

26-01-2018

The balance on Feb 1 was $44,100. Find by solving for x, the account balance on Feb 1, knowing that $59,900 was the balance on Feb 28. Find by adding $201,400 of purchases and subtracting $186,500 paid to creditors:
x + 201,400 - 186,500 = 59,000.
x + 201,400 = 245,500
x = 44,100

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