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afari File Edit View History Bookmarks WindowHelp ezto.mheducation.com value: 10.00 points Use the information in each of the following separate cases to calculate the unknown amount a. Corentine Co. had $152,000 of accounts payable on September 30 and $132,500 on October 31 Total purchases on account during October were $281,000. Determine how much cash was paid on accounts payable during October. Accounts Payable Ending balance b. On September 30, Valerian Co. had a $102,500 balance in Accounts Receivable. During October, the company collected $102,890 from its credit customers. The October 31 balance in Accounts Receivable was $89,000. Determine the amount of sales on account that occurred in October Accounts Receivable Ending balance

Explanation / Answer

a.

Accounts Payable

Cash paid during October = 300,500

b.

Accounts Receivable

Sales on account in October = 89,390

c.

Cash

Balance on September 30 = 19,250

Particulars Amount Particulars Amount Cash (plug) 300,500 Beginning balance 152,000 Ending balance 132,500 Purchases 281,000 433,000 433,000

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