The accounts payable per general ledger of Eagle Company amounted to P 2,000,000, net of P420,000 debit balances in suppliers' accounts. The unpaid voucher file included the following items that not had been recorded as of December 31, 2020: A Company - P224,000 merchandise shipped on December 31, 2020, FOB shipping point; received on January 10, 2021. B, Inc. - P192,000 merchandise shipped on December 26, 2020, FOB destination; received on January 16, 2021.C Super Services - P114,000 janitorial services for the three-month period ending January 31, 2021.MERALCO - P76,200 electric bill covering the period December 16, 2020 to January 15, 2021.On December 28. 2010, a supplier authorized Eagle to return goods billed at P240,123 and shipped on December 20, 2020. The goods were returned by Eagle on December 28, 2020, but the P160,000 credit memo was not received until January 6, 2021. How much is the total trade and other payables?

Answered: The accounts payable per general ledger…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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The accounts payable per general ledger of Eagle Company amounted to P 2,000,000, net of P420,000 debit balances in suppliers' accounts. The unpaid voucher file included the following items that not had been recorded as of December 31, 2020:

A Company - P224,000 merchandise shipped on December 31, 2020, FOB shipping point; received on January 10, 2021.
B, Inc. - P192,000 merchandise shipped on December 26, 2020, FOB destination; received on January 16, 2021.
C Super Services - P114,000 janitorial services for the three-month period ending January 31, 2021.
MERALCO - P76,200 electric bill covering the period December 16, 2020 to January 15, 2021.

On December 28. 2010, a supplier authorized Eagle to return goods billed at P240,123 and shipped on December 20, 2020. The goods were returned by Eagle on December 28, 2020, but the P160,000 credit memo was not received until January 6, 2021.

How much is the total trade and other payables?

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