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Business, 30.11.2019 02:31 terryjessicaa

Before any year-end adjustments, the ryan company’s accounts payable had a total of $950,000 on december 31, 2020. the following adjustments were made: goods were in transit to ryan from a vendor on december 31, 2020. the invoice cost was $40,000. the goods were shipped f. o.b. shipping point on december 29, 2020, and were received on january 4, 2021. goods shipped f. o.b. destination on december 21, 2020, from a vendor to ryan were received on january 6, 2021. the invoice cost was $25,000. on december 27, 2020, ryan wrote and recorded checks to creditors totaling $30,000 that were mailed on january 10, 2021. the accounts payable amount for the december 31, 2020 balance sheet should be

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Before any year-end adjustments, the ryan company’s accounts payable had a total of $950,000 on dece...
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