Question
Account Balances a. During February, $96,980 was paid to creditors on account, and purchases on account were $124,130. Assuming the February 28 balance of Accounts
Account Balances
a. During February, $96,980 was paid to creditors on account, and purchases on account were $124,130. Assuming the February 28 balance of Accounts Payable was $41,700, determine the account balance on February 1. $fill in the blank 1
b. On October 1, the accounts receivable account balance was $42,000. During October, $365,400 was collected from customers on account. Assuming the October 31 balance was $48,300, determine the fees billed to customers on account during October. $fill in the blank 2
c. On April 1, the cash account balance was $23,330. During April, cash receipts totaled $354,620 and the April 30 balance was $16,800. Determine the cash payments made during April. $fill in the blank 3
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