Question

y Bookmarks People Tab Window Help 2 Assignmer X CengageNOW2 x CengageNOW2 X 3 Cengage Sign in X Sun 7:40 PM n/takeAssignment/takeAssignment Main.do?invoker=&takeAssignmentSessionLocator &inprogress=false Untitled documex e Image Res... Update Apple ID Settings Some account Services will not be available until you sign in again eBook Show Me How Calculator Print tem Account Balances a. During February, $186,500 was paid to creditors on account, and purchases on account were $ 201,400. Assuming the February 28 balance of Accounts Payable was $59,900, determine the account balance on February 1. b. On October 1, the accounts receivable account balance was $115,800. During October, S449,600 was collected from customers on account. Assuming the October 31 balance was $130,770, determine the fees billed to customers on account during October c. On April 1, the cash account balance was $46,220. During April, cash receipts totaled $248,600 and the April 30 balance was $56,770. Determine the cash payments made during April

Answer 1

* Account Balance (a) Accounts payable Beginning Balance 2) $45000 Amount pala $ 186500 purchase & 2014oo Ending Balance 5 59900 - Feb 1 Account Balance: Beg. Bol + purchase - Amount paid = Ending bal Begbalt $ 2014OO - 186500 - $59900 Beg Bal = s 59900 + $ 186.500 - $201400 $ 45000 Fees billed to customer on account 464570 Account Receivable $ 115,800 collection Locti Beginning Bal 449,600 Duringoc. customer Billeda 4645701 Oct 31 Ending Bal $130,7701 - Beg Balt fees billed collection = Ending bal $115800 t fees billed - 44 9600 - $130770 - Fees billed: = $ 1307 to +44 9600 - 115800-1$4645

( cash payments made during Aprill & 2380501 cash APO I Beg Bal & 46220 cash Receipt & 248 600 cash payment made $238050 Ap8.30 Balance & 567707 Beg Balt Receipts - Payments - Ending Bal - 5 4 6220+ 248600 - Payments - $ 567 70 payments = 5 4 6220 + 248600 - 567 70 $ 238050