Question

Account Balances

a.  During February, $82,500 was paid to creditors on account, and purchases on account were $105,600. Assuming that the February 28 balance of Accounts Payable was $35,480, determine the account balance on February 1.
$

b.  On October 1, the accounts receivable account balance was $29,500. During October, $256,600 was collected from customers on account. Assuming that the October 31 balance was $33,900, determine the fees billed to customers on account during October.
$

c.  On April 1, the cash account balance was $19,050. During April, cash receipts totaled $289,560 and the April 30 balance was $13,720. Determine the cash payments made during April.
$


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