Reference no: EM132929080

Question - The accountant of Tarbuck Inc. provided you the following reconciliation of accounts payable control account and subsidiary ledger account for the period ended December 31, 2014 Balance per control account (general leder) P4,450,000

Goods received on December 30, purchase invoice not yet received from supplier (400,000)

Purchase invoice of goods still in transit as of December 31, 2014. Term FOB Destination 300,000

Payments to suppliers in which checks are released on December 30, 2014 (520,000)

Payments to suppliers in which checks were released on January 2, 2015 200,000

Purchase returns (50,000)

Credit balance on suppliers account 40,000

Balance per subsidiary ledger P4,020,000

What is the correct balance of the accounts payable as of December 31, 2014?