1. The manager of Canadiana Gallery Ltd needs to compute the following information

a. Total cash paid during March. Analyse Cash

b. Cash collections from customers during March. Analyse Accounts Receivable

c. Cash paid on a note payable during March. Analyse Notes Payable

Here is the data you need to analyse

Account Feb 28 Mar 31

Cash 10,000 5,000

Accounts Receivable 26,000 24,000

Note Payable 13,000 21,000

Additional Information For the Month of March

Cash receipts, $80,000

Sales on account, $50,000

New borrowing, $25,000

Prepare a T-account too compute each amount a through c