The ending balance of FDN Trading's accounts payable is P100,000 and the total debits and credits to that account during the period were P59,000 and P37,000, respectively. How much is the beginning balance of the accounts payable?

The ending balance of FDN Trading's accounts payable is P100,000 and the total debits and credits to that account during the period were P59,000 and P37,000, respectively. How much is the beginning balance of the accounts payable?

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter22: S Corporations

Section: Chapter Questions

Problem 34P

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Please answer the question correctly. Thank you.

The ending balance of FDN Trading's accounts payable is P100,000 and the total
debits and credits to that account during the period were P59,000 and P37,000,
respectively. How much is the beginning balance of the accounts payable?

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