Question

Use the information in each of the following separate cases to calculate the unknown amount. e. Corentine Co. had $161,000 of accounts payable on September 30 and $137,000 on October 31. Total purchases on account during October were $290,000. Determine how much cash was paid on accounts payable during October. b. On September 30. Valerian Co. had a $107,000 balance in Accounts Receivable. During October, the company collected $107,390 from its credit customers. The October 31 balance in Accounts Receivable was $98,000. Determine the amount of sales on account that occurred in October. c. During October. Alameda Company had $111,500 of cash receipts and $112.150 of cash disbursements. The October 31 Cash balance was $23,100o. Determine how much cash the company had at the close of business on September 30. Complete this question by entering your answers in the tabs below. Required A Required B Required C Corentine Co. had $161.000 of accounts payable on September 30 and 137.000 on October 31. Total purchases on account during October were $290.000. Determine how much cash was paid on accounts payable during October. Accounts Payable Ending balarce

Answer 1

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@) A ccounts Pay able : Begining balance 161000 Cash AtC 314000 |(Balaning tigwrs) Purchases 290,000 Ending balane 137000 451000 45100D Cash paid on Accounts =5 314000 payable Accounts Receinade. Atc Begini ng balane 107000 Cash Alc 107390 98390 Sales Alc (Balaning figue) Ending balane 98000 20539D 205390 Sales en Account $ 98390 %3D Cash flC Begining balanie 23750 Bereipts 1, 500 Paymerts 112,150 Ending balane 23100 135250 135250 $ 2375D Closing balanu on, Sep 30