Use the information in each of the following separate cases to calculate the unk

Question

Use the information in each of the following separate cases to calculate the unknown amount. a. Corentine Co. had $160,000 of accounts payable on September 30 and $136,500 on October 31. Total purchases on account b. On September 30, Valerian Co. had a $106,500 balance in Accounts Receivable. During October, the company collected $106,890 c. During October, Alameda Company had $110,500 of cash receipts and $111150 of cash disbursements. The October 31 Cash during October were $289,000. Determine how much cash was paid on accounts payable during October. from its credit customers. The October 31 balance in Accounts Receivable was $97,000. Determine the amount of sales on account that occurred in October balance was $22,600. 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 $160,000 of accounts payable on September 30 and $136,500 on October 31. Total purchases on account during October were $289,000. Determine how much cash was paid on accounts payable during October. Accounts Payable Ending balance Required A Required B>

Explanation / Answer

Req a. Accounts Payable Cash account 312,500 Balance 160,000 Merchandise Inventory 289000 Ending balance 136500 Req b: Accounts receivable Balance 106,500 Cash 106,890 Sales revenue 97,390 Ending balance 97,000 Req c. Cash Balance 23,250 Cash disbursement 111,150 Cash receipts 110,500 Ending balance 22,600

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