Question
1.During February, $183,500 was paid to creditors on account, and purchases on account were $202,700. Assuming the February 28 balance of Accounts Payable was $60,300,
1.During February, $183,500 was paid to creditors on account, and purchases on account were $202,700. Assuming the February 28 balance of Accounts Payable was $60,300, determine the account balance on February 1?
2. On October 1, the accounts receivable account balance was $120,300. During October, $443,200 was collected from customers on account. Assuming the October 31 balance was $122,230, determine the fees billed to customers on account during October?
3.On April 1, the cash account balance was $45,980. During April, cash receipts totaled $252,400 and the April 30 balance was $58,640. Determine the cash payments made during April?
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