Question

the t-account for accounts payable had 4 transactions entered into it. it was increased by $300 and by $100 and decreased by $50 and by $150,
respectively. its balance at the end of the period would be a debit/credit)
balance of $
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Answer 1

The t-account for accounts payable had 4 transactions entered into it.

The net balance in the account is $50. This is a credit balance.

What is the cash account?

The cash account is an asset account hence a debit entry to it increases the account balance while a credit entry reduces it.

it was increased by $300 and by $100 and decreased by $50 and by $150, respectively.

The net balance in the account

= $300 - $50

= $250

This is a debit balance.

The net balance in the account

= $100 - $150

= $50

This is a credit balance.

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