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Account Balances a. During February, $79,340 was paid to creditors on account, and purchases on account were $101,560. Assuming the February 28 balance of Accounts
Account Balances a. During February, $79,340 was paid to creditors on account, and purchases on account were $101,560. Assuming the February 28 balance of Accounts Payable was $34,120, determine the account balance on February 1. $ 11,900 b. On October 1, the accounts receivable account balance was $34,000. During October, $295,800 was collected from customers on account. Assuming the October 31 balance was $39,100, determine the fees billed to customers on account during October. $ c. On April 1, the cash account balance was $19,460. During April, cash receipts totaled $295,790 and the April 30 balance was $14,010. Determine the cash payments made during April. $
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