Solution-What mebielyn should report accounts payable of

What mebielyn should report accounts payable of

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Reference no: EM132903376

Mebielyn Company's Accounts Payable balance at December 31, 202, was ?1,800,000 before considering the following transactions:

Goods were transit from a vendor to Mebielyn on December 31,2021. The invoice price was ?100,000, and the goods were shipped FOB shipping point on December 29,2021. The goods were received on January 4,2021.
Goods shipped to Mebielyn FOB shipping point on December 20,2021, from a vendor were lost in transit. The invoice price was ?50,000. On January 5,2022 Mebielyn filed a ?50,000. Claim against the common carrier.

Problem 1: In its December 31,2021 statement of financial position, Mebielyn should report Accounts Payable of

a. ?1,950,000

b. ?1,900,000

c. ?1,850,000

d. ?1,800,000

Reference no: EM132903376

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What mebielyn should report accounts payable of

Reference no: EM132903376

Reference no: EM132903376

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