Accounting Homwork Tutoring

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WlbgvIrezn

Business Finance

Description

On 12/31/17, Ginger Inc had a credit balance of $850,000 on its Accounts Payable. On 12/20/17 cat food shipped from Allie Inc FOB destination were received by Ginger Inc on 1/2/18. The cost of the cat food was $40,000 on the invoice. What should be the 12/31/17 ending balance in Ginger Inc's A/P

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Explanation & Answer

Recently asked, the ending account balance of Ginger Inc's A/P is 810,000


Final balance= Starting Balance - Invoice


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