Reference no: EM132515211

Question - The manager of Canadiana Gallery Ltd needs to compute the following information

a. Total cash paid during March. Analyse Cash.

b. Cash collections from customers during March. Analyse Accounts Receivable.

c. Cash paid on a note payable during March. Analyse Notes Payable.

Here is the data you need to analyse

Account	Feb 28	Mar 31
Cash	10,000	5,000
Accounts Receivable	26,000	24,000
Note Payable	13,000	21,000

Additional Information For the Month of March

Cash receipts, $80,000

Sales on account, $50,000

New borrowing, $25,000

Required - Prepare a T-account too compute each amount a through c.