During February, $98,100 was paid to creditors on account, and purchases on account were $125,570. Assuming that the February 28 balance of Accounts Payable was $42,180, determine the account balance on February 1. b. On October 1, the accounts receivable account balance was $44,700. During October, $388,900 was collected from customers on account. Assuming that the October 31 balance was $51,400, determine the fees billed to customers on account during October.$ c. On April 1, the cash account balance was $23,340. During April, cash receipts totaled $354,770 and the April 30 balance was $16,800. Determine the cash payments made during April.$

During February, $98,100 was paid to creditors on account, and purchases on account were $125,570. Assuming that the February 28 balance of Accounts Payable was $42,180, determine the account balance on February 1. b. On October 1, the accounts receivable account balance was $44,700. During October, $388,900 was collected from customers on account. Assuming that the October 31 balance was $51,400, determine the fees billed to customers on account during October.$ c. On April 1, the cash account balance was $23,340. During April, cash receipts totaled $354,770 and the April 30 balance was $16,800. Determine the cash payments made during April.$

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 5EB: Catherines Cookies has a beginning balance in the Accounts Receivable control total account of...

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