Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the information in each of the following separate cases to calculate the unknown amount. a . Corentine Company had $ 1 6 1 ,

Use the information in each of the following separate cases to calculate the unknown amount.
a. Corentine Company had $161,000 of accounts payable on September 30 and $137,000 on October 31. Total purchases on credit
during October were $290,000. Determine how much cash was paid on accounts payable during October.
b. On September 30, Valerian Company had a $107,000 balance in Accounts Receivable. During October, the company collected
$107,390 from its credit customers. The October 31 balance in Accounts Receivable was $98,000. Determine the amount of sales
on credit that occurred in October.
c. During October, Alameda Company had $111,500 of cash receipts and $112,150 of cash disbursements. The October 31 Cash
balance was $23,100. Determine how much cash the company had at the close of business on September 30.
Complete this question by entering your answers in the tabs below.
Corentine Company had $161,000 of accounts payable on September 30 and $137,000 on October 31. Total purchases
on credit during October were $290,000. Determine how much cash was paid on accounts payable during October.
(please give me the answer in chart form so i can pulg it in easliy)
image text in transcribed

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

Step: 3

blur-text-image

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

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

11th Edition

0471448966, 978-0471448969

More Books

Students also viewed these Accounting questions

Question

1 What are the three key facets of HRP?

Answered: 1 week ago