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PDA

dantes234
Jan 26, 2009, 03:56 PM
The balance in accounts payable is $122,400. Included in this amount is $10,400 if advance deposits made by X Co. on future purchases
ROLCAM
Jan 26, 2009, 04:32 PM
DR Accounts Payable Account-----------------10,400
CR Purchases Account-----------------------------------10,400

Being the amount of purchases paid in advance.