a. On April 1, the cash account balance was $7,850. During April, cash receipts totaled $41,850, and the April 30 balance was $9,150. Determine the cash payments made during April.
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b. On July 1, the accounts receivable account balance was $15,500. During July, $61,000 was collected from customers on account. Assuming the July 31 balance was $17,500, determine the fees billed to customers on account during July.
c. During January, $40,500 was paid to creditors on account, and purchases on account were $57,700. Assuming the January 31 balance of Accounts Payable was $38,000, determine the account balance on January 1.
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Posted 10 Sep 2017 04:09 PM
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