During February, $76,890 was paid to creditors on account, and purchases on account were $98,420. Assuming that the February 28 balance of Accounts Payable was $33,060, determine the account balance on February 1. What's the answer.

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.