At October 1, 2014, Metz Industries Had an Accounts Payable

question 7

Multiple Choice

At October 1, 2014, Metz Industries had an Accounts Payable balance of $70,000. During the month, the company made purchases on account of $50,000 and made payments on account of $80,000. At October 31, 2014, the Accounts Payable balance is

• A) $70,000 debit
• B) $10,000 credit
• C) $40,000 credit
• D) $80,000 credit

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