Use the information in each of the following separate cases to calculate the unknown amount. a. Corentine Company had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total purchases on credit during October were $281,000. Determine how much cash was paid on accounts payable during October. b. On September 30, Valerian Company had a $102,500 balance in Accounts Receivable. During October, the company collected $102,890 from its credit customers. The October 31 balance in Accounts Receivable was $89,000. Determine the amount of sales on credit that occurred in October. c. During October, Alameda Company had $102,500 of cash receipts and $103,150 of cash disbursements. The October 31 Cash balance was $18,600. 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. Required A Required B Required C Corentine Company had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total purchases on credit during October were $281,000. Determine how much cash was paid on accounts payable during October. Accounts Payable 2$ Ending balance Recuired A Required B

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Just for part a; how would I put this in the chart? My options for the chart being Beginning balance, Cash disbursements, cash receipts, payments on account, purchases on account. Thank you!
Use the information in each of the following separate cases to calculate the unknown amount.
a. Corentine Company had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total purchases on
credit during October were $281,000. Determine how much cash was paid on accounts payable during October.
b. On September 30, Valerian Company had a $102,500 balance in Accounts Receivable. During October, the company collected
$102,890 from its credit customers. The October 31 balance in Accounts Receivable was $89,000. Determine the amount of
sales on credit that occurred in October.
c. During October, Alameda Company had $102,500 of cash receipts and $103,150 of cash disbursements. The October 31 Cash
balance was $18,600. 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.
Required A
Required B
Required C
Corentine Company had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total purchases
on credit during October were $281,000. Determine how much cash was paid on accounts payable during October.
Accounts Payable
2$
Ending balance
Required B
>
T Recủired A
Transcribed Image Text:Use the information in each of the following separate cases to calculate the unknown amount. a. Corentine Company had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total purchases on credit during October were $281,000. Determine how much cash was paid on accounts payable during October. b. On September 30, Valerian Company had a $102,500 balance in Accounts Receivable. During October, the company collected $102,890 from its credit customers. The October 31 balance in Accounts Receivable was $89,000. Determine the amount of sales on credit that occurred in October. c. During October, Alameda Company had $102,500 of cash receipts and $103,150 of cash disbursements. The October 31 Cash balance was $18,600. 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. Required A Required B Required C Corentine Company had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total purchases on credit during October were $281,000. Determine how much cash was paid on accounts payable during October. Accounts Payable 2$ Ending balance Required B > T Recủired A
Expert Solution
Step 1

>Accounts Payable is the accumulated balance that the company or organisation owes to suppliers that are repayable in a short period of time.

>These are accounted for and shown as part of Current Liabilities.

>Accounts Payable account have a normal credit balance and are increased by credits and decreased by debits.

>Note: You have specifically asked for Requirement [a]

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