ABC had accounts payable of $150,000.00 on its books for the year ended 12/31/ year 1 before consideration of the following:
Invoice # 104 dated 01/03/year 2 in amount $5,000.00 for product shipped 12/24/year 1 and received 12/27/year 1, terms FOB shipping point.
Invoice # 587 dated 01/04/year 2 amount 10,000.00 for product shipped 12/27/year 1 and received 01/03/year 2, terms FOB shipping point.
invoice # ICX59427-013 dated 12/29/year1amount 25,000.00 for product shipped 01/02/year 2 and received 01/05/year 2 , terms FOB destination.
Invoice # 4 dated 01/02/year 2 amount 10,000.00 for product shipped 12/31/year 1 and received 01/03/year 2, terms FOB Destination.
in ABC's 12/31/year1 balance Sheet A/P balance S/B $155,000.00 or 170,000.00 or 175,000.00 or 165,000.00 or 185,000.00