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In analyzing the accounts for King Company, you notice that, at the beginning of the month, the Accounts Payable account showed a $3,600 credit balance. During the month, a check was written the payment of $1,300 on the amount owed. This check was properly recorded and posted during the month. Please calculate the new balance of the Accounts Payable account at the end of the month.

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jepessoa

Answer:

$2,300

Explanation:

If the accounts payable (which is a liability or debt) balance at the beginning of the month was $3,600, and the company issued a $1,300 check, then the balance of the account will be = $3,600 - $1,300 = $2,300

Accounts payable includes current liabilities (debts) like utilities bills, merchandise or supplies purchases, services, etc.

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