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Nunally Mfg Co has furnished the following information which occurred during May

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solution


Question

Nunally Mfg Co has furnished the following information which occurred during May: Accounts payable Balance at April 30=$29,000;Purchases on Accounts during May=$150,000;Cash payments for Materials Purchased in April=$82,000;Cash Payments for materials purchased in May =$76,000. The accounts payable account is used only for direct materials. How much will Nunally report as account payable on the balance sheet at the end of May?

 

Paper#25447 | Written in 18-Jul-2015

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