DEF Manufacturing Company has furnished the following information that occurred during May:

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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DEF Manufacturing Company has furnished the following information that occurred during May:
Accounts Payable balance at April 30
$ 29,000
Purchases on account during May
150,000
Cash payments for materials purchased in April
29,000
Cash payments for materials purchased in May
135,000
The accounts payable account is used only for direct materials. How much will DEF report as accounts payable on the
balance sheet at the end of May?
Transcribed Image Text:DEF Manufacturing Company has furnished the following information that occurred during May: Accounts Payable balance at April 30 $ 29,000 Purchases on account during May 150,000 Cash payments for materials purchased in April 29,000 Cash payments for materials purchased in May 135,000 The accounts payable account is used only for direct materials. How much will DEF report as accounts payable on the balance sheet at the end of May?
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