If Accounts Payable Has Debit Postings of $17,000, Credit Postings

question 96

Multiple Choice

If Accounts Payable has debit postings of $17,000, credit postings of $14,000, and a normal ending balance of $6,000, what was its beginning balance?

• A) $9,000 Cr.
• B) $3,000 Cr.
• C) $9,000 Dr.
• D) $3,000 Dr.

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Definitions:

Effort

The amount of work or energy expended towards the accomplishment of a task or objective.

Additional Interest

Interest that accrues in addition to the regular interest, often due to late payments or changes to agreed terms.

Borrow

The act of obtaining or receiving something with the intention of returning it or its equivalent.

Pay Back

A financial metric used to evaluate the time required to recoup the cost of an investment, gauging its profitability.