Use the information in each of the following separate cases to calculate the unknown amount. a. Corentine Co. had $152.000 of accounts payable on September 30 and $132.500 on October 31. Total purchases on account during October were $281,000. Determine how much cash was paid on accounts payable during October. b. On September 30, Valerian Co. 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 account 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.
Use the information in each of the following separate cases to calculate the unknown amount. a. Corentine Co. had $152.000 of accounts payable on September 30 and $132.500 on October 31. Total purchases on account during October were $281,000. Determine how much cash was paid on accounts payable during October. b. On September 30, Valerian Co. 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 account 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Use the information in each of the following separate cases to calculate the unknown amount.
a. Corentine Co. had $152.000 of accounts payable on September 30 and $132,500 on October 31, Total purchases on account
during October were $281,000. Determine how much cash was paid on accounts payable during October.
b. On September 30, Valerian Co. 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 account
that occurred 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.
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Corentine Co. had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total purchases on account
during October were $281,000. Determine how much cash was paid on accounts payable during October
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