Question
Account Balances a. During February, $78,310 was paid to creditors on account, and purchases on account were $100,240. Assuming that the February 28 balance of
Account Balances
a. During February, $78,310 was paid to creditors on account, and purchases on account were $100,240. Assuming that the February 28 balance of Accounts Payable was $33,670, determine the account balance on February 1. $
b. On October 1, the accounts receivable account balance was $46,000. During October, $400,200 was collected from customers on account. Assuming that the October 31 balance was $52,900, determine the fees billed to customers on account during October. $
c. On April 1, the cash account balance was $20,130. During April, cash receipts totaled $305,980 and the April 30 balance was $14,490. Determine the cash payments made during April. $
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