The manager of Sadie Industries Furniture needs to compute the following amounts:
a. Total cash paid during December.
b. Cash collections from credit customers during December. Analyze Accounts Receivable
c. Cash paid on a note payable during December. Analyze Notes Payable.
Here's the additional data you need to analyze the accounts:

Requirement
1. Prepare a T-account to compute each amount, a through c.

Transcribed Image Text:

Balance Additional Information for the Month of December Nov 30 Dec 31 16,500 8,250 Cash receipts, $91,000 11,500 19,500 Ne borrowing, $31,000 Account 1. Cash 2. Accounts Receivable23,000 21,000 Sales on account, $42,000