The owner of Midwest Catering Services needs to compute the following summary information from the accounting records:

a. Net income for the month of March.

c. Cash collections from customers during March.

b. Total cash paid during March.

d. Cash paid on a note payable during March. The quickest way to compute these amounts is to analyze the following accounts: Balance Additional Information Account Feb. 28 Mar. 31 for the Month of March.

a. Owner. Capital. $ 9.000 $15,000

b. Cash 7,000 2.000

c. Accounts Receivable 24,000 26.000

d. Note Payable 11.000 16.000 Withdrawals. $7.000 Cash receipts. $61.000 Revenues on account. $76,000 New borrowing on a note payable. $7.500 The net income for March can be computed as follows: OWNER, CAPITAL Feb. 28 Bal. 9.000 March Withdrawals 7.000 March Net Income March 31 Bal. X $13,000 15,000 Use a similar approach to compute the other three items.