Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

oter 2 Homework Seved Help Save & Exit Chec 3 Use the information in each of the following separate cases to calculate the unknown amount.

image text in transcribed
oter 2 Homework Seved Help Save & Exit Chec 3 Use the information in each of the following separate cases to calculate the unknown amount. a. Corentine Co. had $156,000 of accounts payable on September 30 and $134,500 on October 31. Total purchases on account during October were $285,000. Determine how much cash was paid on accounts payable during October b. On September 30, Valerian Co. 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 account that occurred in October c. During October, Alameda Company had $106,500 of cash receipts and $107150 of cash disbursements. The October 31 Cash balance was $20,600. Determine how much cash the company had at the close of business on September 30. DOK Complete this question by entering your answers in the tabs below. Required A Required B Required c On September 30, Valerian Co. 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 account that occurred in October nces Accounts Receivable Beginning balance $ 0 93,000 Beginning balance Cash disbursements Cash receipts on account Payments on account Purchases on account

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions