Question
a. During February, $88,030 was paid to creditors on account, and purchases on account were $112,680. Assuming the February 28 balance of Accounts Payable was
a. During February, $88,030 was paid to creditors on account, and purchases on account were $112,680. Assuming the February 28 balance of Accounts Payable was $37,850, determine the account balance on February 1. $
b. On October 1, the accounts receivable account balance was $44,400. During October, $386,300 was collected from customers on account. Assuming the October 31 balance was $51,100, determine the fees billed to customers on account during October. $
c. On April 1, the cash account balance was $23,490. During April, cash receipts totaled $357,050 and the April 30 balance was $16,910. Determine the cash payments made during April.
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