During February, $81,750 was paid to creditors on account, and purchases on account were $104,640. Assuming the February 28 balance of Accounts Payable was $35,150, determine the account balance on February 1. $fill in the blank 1
Account balances..
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a. During February, $81,750 was paid to creditors on account, and purchases on account were $104,640. Assuming the February 28 balance of Accounts Payable was $35,150, determine the account balance on February 1.
$fill in the blank 1
b. On October 1, the accounts receivable account balance was $36,200. During October, $314,900 was collected from customers on account. Assuming the October 31 balance was $41,600, determine the fees billed to customers on account during October.
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c. On April 1, the cash account balance was $14,260. During April, cash receipts totaled $216,750 and the April 30 balance was $10,270. Determine the cash payments made during April.
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