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Account balances a. During February, $94,090 was paid to creditors on account, and purchases on account were $120,440. Assuming the February 28 balance of
Account balances a. During February, $94,090 was paid to creditors on account, and purchases on account were $120,440. Assuming the February 28 balance of Accounts Payable was $40,460, determine the account balance on February 1. b. On October 1, the accounts receivable account balance was $43,700. During October, $380,200 was collected from customers on account. Assuming the October 31 balance was $50,300, determine the fees billed to customers on account during October c. On April 1, the cash account balance was $16,000. During April, cash receipts totaled $243,200 and the April 30 balance was $11,520. Determine the cash payments made during April.
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