Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5 Use the information in each of the following separate cases to calculate the unknown amount a. Corentine Company had $152,000 of accounts payable on

image text in transcribed
5 Use the information in each of the following separate cases to calculate the unknown amount a. Corentine Company had $152,000 of accounts payable on September 30 and $132.500 on October 31. Total purchases on credit during October were $281.000. Determine how much cash was paid on accounts payable during October b. On September 30, Valerian Company had a $102,500 balance in Accounts Receivable. During October, the company collected $102,890 from its credit customers. The October 31 balance in Accounts Receivable was $89.000. Determine the amount of sales on credit that occurred in October, c. During October, Alameda Company had $102,500 of cash receipts and $103150 of cash disbursements. The October 31 Cash balance was $18,600. Determine how much cash the company had at the close of business on September 30 eBook Hin Complete this question by entering your answers in the tabs below. Print Required A Required B Required ences Corentine Company had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total purchases on credit during October were $281,000. Determine how much cash was paid on accounts payable during October Accounts Payable Ending balance NA Required B >

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials Of Cost Accounting For Health Care Organizations

Authors: Steven Finkler, Judith Baker, David Ward

3rd Edition

0810235447, 9780763738136

More Books

Students also viewed these Accounting questions

Question

Stonewalling and how do they deal with it?

Answered: 1 week ago

Question

=+ Is the information source free from bias on the subject?

Answered: 1 week ago

Question

=+ Is the information source knowledgeable about the subject?

Answered: 1 week ago

Question

=+2. How will it be used?

Answered: 1 week ago