What must be reported as an account payable in Item 30 of Statement A of the Form LM-2?
A. Ordinarily, accounts payable are those obligations incurred on an open account for goods and services rendered. Enter in Column (C) the total of all gross accounts payable at the start of the reporting period. Enter in Column (D) the total of all gross accounts payable at the end of the reporting period, which is also reported on Line 28, Column B of Schedule 8 (Accounts Payable Aging Schedule).
