Business, 10.03.2020 16:37 haybaby312oxdjli
Rabb Co. records its purchases at gross amounts but wishes to change to recording purchases net of purchase discounts. Discounts available on purchases recorded from October 1, Year 3 to September 30, Year 4, totaled $2,000. Of this amount, $200 is still available in the accounts payable balance. The balances in Rabb's accounts as of and for the year ended September 30, Year 4, before conversion are:.Purchases $100,000
Purchase discounts taken 800
Accounts payable 30,000
What is Rabb�s accounts payable balance as of September 30, year 2, after the conversion?
A. $29,800
B. $29,200
C. $28,800
D. $28,200
Answers: 3
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