Answer:
The amount of account payable on October 31, 2015 would be $25,000.
Explanation:
Given information -
Opening account payable balance on October 1 - $40,000
Purchase made in the month of October is - $33,000
Now by adding both the opening balance and purchase , we will get the total amount to be payable for the month of October,
$40,000 + $33,000
= $73,000
Now it is given that Padilla industries have made some payments on account - $48,000
Subtracting this amount paid from total account payable , we will get how much amount is left to be paid in October ( 31 )
$73,000 - $48,000
= $25,000
