Reference no: EM132633312

Question -

a. During February, $85,560 was paid to creditors on account, and purchases on account were $109,520. Assuming the February 28 balance of Accounts Payable was $36,790, determine the account balance on February 1.

b. On October 1, the accounts receivable account balance was $41,900. During October, $364,500 was collected from customers on account. Assuming the October 31 balance was $48,200, determine the fees billed to customers on account during October.

c. On April 1, the cash account balance was $19,310. During April, cash receipts totaled $293,510 and the April 30 balance was $13,900. Determine the cash payments made during April.