Question
a. During February, $83,950 was paid to creditors on account, and purchases on account were $107,460. Assuming that the February 28 balance of Accounts Payable
a. During February, $83,950 was paid to creditors on account, and purchases on account were $107,460. Assuming that the February 28 balance of Accounts Payable was $36,100, determine the account balance on February 1. $ b. On October 1, the accounts receivable account balance was $30,000. During October, $261,000 was collected from customers on account. Assuming that the October 31 balance was $34,500, determine the fees billed to customers on account during October. $ c. On April 1, the cash account balance was $17,600. During April, cash receipts totaled $267,520 and the April 30 balance was $12,670. Determine the cash payments made during April. $
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