Question
Exercise 2-7 (Algo) Analyzing account entries and balances LO A1 Use the information in each of the following separate cases to calculate the unknown amount.
Exercise 2-7 (Algo) Analyzing account entries and balances LO A1 Use the information in each of the following separate cases to calculate the unknown amount. Corentine Company had $156,000 of accounts payable on September 30 and $134,500 on October 31. Total purchases on credit during October were $285,000. Determine how much cash was paid on accounts payable during October. On September 30, Valerian Company had a $104,500 balance in Accounts Receivable. During October, the company collected $104,890 from its credit customers. The October 31 balance in Accounts Receivable was $93,000. Determine the amount of sales on credit that occurred in October. During October, Alameda Company had $106,500 of cash receipts and $107,150 of cash disbursements. The OctoberComplete this question by entering your answers in the tabs below.
- Required A
- Required B
- Required C
CorentineCompany had $156,000 of accounts payable on September 30 and $134,500 on October 31. Total purchases oncredit during October were $285,000. Determine how much cash was paid on accounts payable during October.
Accounts PayableBeginning balanceBeginning balanceCash disbursementsCash receiptsCash receiptsBeginning balanceEnding balance$0Step by Step Solution
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