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a. During July, $60,500 was paid to creditors on account, and purchases on account were $77,700. Assuming the July 31 balance of Accounts Payable was
a. During July, $60,500 was paid to creditors on account, and purchases on account were $77,700. Assuming the July 31 balance of Accounts Payable was $22,300, de- termine the account balance on July 1 b. On May 1, the accounts receivable account balance was $25,500. During May, $115,000 was collected from customers on account. Assuming the May 31 balance was $27,500, determine the fees billed to customers on account during May. c. On April 1, the cash account balance was $11,150. During April, cash receipts totaled $72,300 and the April 30 balance was $15,750. Determine the cash payments made during April.
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