Reference no: EM132556088

Question -

a. During February, $95,300 was paid to creditors on account, and purchases on account were $121,980. Assuming that the February 28 balance of Accounts Payable was $40,980, determine the account balance on February 1.

b. On October 1, the accounts receivable account balance was $49,300. During October, $428,900 was collected from customers on account. Assuming that the October 31 balance was $56,700, determine the fees billed to customers on account during October.

c. On April 1, the cash account balance was $19,990. During April, cash receipts totaled $303,850 and the April 30 balance was $14,390. Determine the cash payments made during April.