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Exercise 2-6 Analyzing account entries and balances CA Use the information in each of the following separate cases to calculate the unknown amount a. Corentine
Exercise 2-6 Analyzing account entries and balances CA Use the information in each of the following separate cases to calculate the unknown amount a. Corentine Co, had $152.000 of accounts payable on September 30 and $132.500 on October 31. Total purchases on account during October were $281.000. Determine how much cash was paid on accounts payable during October b. On September 30, Valerian Co, had a $102.500 balance in Accounts Receivable. During October, the company collected $102.890 from its credit customers. The October 31 balance in Accounts Receivable was $89.000. Determine the amount of sales on account that occurred in October c. During October. Alameda Company had $102.500 of cash receipts and $103.150 of cash disbursements. The October 31 Cash balance was $18.600. Determine how much cash the company had at the close of business on September 30, Page 71
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