Account Balances a. During February, $87,540 was paid to creditors on account, a

Question

Account Balances a. During February, $87,540 was paid to creditors on account, and purchases on Accounts Payable was $37,640, determine the account balance on February 1. account were $112,050. Assuming that the February 28 balance of b. On October 1, the accounts receivable account balance was $30,700. During October, $267,100 was collected from customers on account. Assuming that the October 31 balance was $35,300, determine the fees billed to customers on account during October. c. On April 1, the cash account balance was $20,0s0. During April, cash receipts totaled $304,760 and the April 30 balance was $ the cash payments made during April Check My Weark1 more Check My Work uses remanng Previous Next 2:36 PM

Explanation / Answer

account payable a/c date particulars amount date particulars amount 28-Feb to bank $               87,540.00 01-Feb By balance b/d $          13,130.00 to balance c/d $               37,640.00 by purchase $      1,12,050.00 $           1,25,180.00 $     1,25,180.00 Accounts receviable a/c Date Particulars amount Date particulars amount 01-Oct to balance b/d 30700 01-Oct by cash 267100 to sales 271700 31-Oct by balance c/d 35300 302400 302400 cash a/c Date Particulars amount Date particulars amount 01-Apr to balance b/d 20050 by sundries 310370 to sundries 304760 30-Apr by balance c/d 14440 324810 324810

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