Question - Consider the following account starting balances and transactions involving these accounts.
Use T-accounts to record the starting balances and the offsetting entries for the transactions.
The starting balance of Accounts Payable is $1,200
The starting balance of Cash is $9,000
The starting balance of Debt is $3,600
The starting balance of Inventory is $5,100
1. Buy $15 worth of manufacturing supplies on credit
2. Borrow $65 from a bank
3. Pay $7 owed to a supplier
What is the final amount in Accounts Payable?