Following is a description of the transactions that were journalized and posted to the general ledger of Neapolitan Products Ltd. during December: • Sales on account $167,500 • Cash received from customers on account $109,800 • Cash paid to creditors on account $36,600 • Cash sales $57,700 • Purchases on account $65,000 Cash purchases $31,000 The schedule of accounts receivable prepared on December 31 shows a total of $103,700 owed by customers. a. Calculate the December 31 balance in the Accounts Receivable control account. The December 1 balance is $46,000 b. Have any errors been made involving accounts receivable? Explain.
Following is a description of the transactions that were journalized and posted to the general ledger of Neapolitan Products Ltd. during December: • Sales on account $167,500 • Cash received from customers on account $109,800 • Cash paid to creditors on account $36,600 • Cash sales $57,700 • Purchases on account $65,000 Cash purchases $31,000 The schedule of accounts receivable prepared on December 31 shows a total of $103,700 owed by customers. a. Calculate the December 31 balance in the Accounts Receivable control account. The December 1 balance is $46,000 b. Have any errors been made involving accounts receivable? Explain.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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can you please help with questions a and b listed at the bottom asap . this is for my accounting homework
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