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f the individual subsidiary ledger accounts contained the following data: Cadence Company, Vendor, $148, credit balance Franklin Enterprises, Customer, $311, debit balance Marcelo Construction, Client, $413, debit balance Peyton Supplies, Supplier, $121, credit balance The accounts receivable (A/R) control account and the accounts payable (A/P) control account balances would be: a. A/R, $269; A/P, $724 b. A/R, $724; A/P, $269 c. A/R, $311; A/P, $413 d. A/R, $121; A/P, $148

f the individual subsidiary ledger accounts contained the following data: Cadence Company, Vendor, $148, credit balance Franklin Enterprises, Customer, $311, debit balance Marcelo Construction, Client, $413, debit balance Peyton Supplies, Supplier, $121, credit balance The accounts receivable (A/R) control account and the accounts payable (A/P) control account balances would be: a. A/R, $269; A/P, $724 b. A/R, $724; A/P, $269 c. A/R, $311; A/P, $413 d. A/R, $121; A/P, $148

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter9: Sales And Purchases
Section: Chapter Questions
Problem 7QY: The schedule of accounts payable lists each creditors account balance, and the total equals the...
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if the individual subsidiary ledger accounts contained the following data:

Cadence Company, Vendor, $148, credit balance

Franklin Enterprises, Customer, $311, debit balance

Marcelo Construction, Client, $413, debit balance

Peyton Supplies, Supplier, $121, credit balance

The accounts receivable (A/R) control account and the accounts payable (A/P) control account balances would be:

a. A/R, $269; A/P, $724
b. A/R, $724; A/P, $269
c. A/R, $311; A/P, $413
d. A/R, $121; A/P, $148
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