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24 February, 11:50

g 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. 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. During October, Alameda Company had $102,500 of cash receipts and $103,150 of cash disbursements. The October 31 Cash balance was $18,600. Determine how much cash the company had at the close of business on September 30.

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Answers (1)
  1. 24 February, 12:16
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    1. $300,500

    2. $89,390

    3. $19,250

    Explanation:

    1. The computation of the cash paid is shown below:

    = Opening balance of accounts payable + purchase made - ending balance of accounts payable

    = $152,000 + $281,000 - $132,500

    = $300,500

    2. The computation of the sales is shown below:

    = Ending balance of accounts receivable + cash receipts - opening balance of accounts receivable

    = $89,000 + $102,890 - $102,500

    = $89,390

    3. The computation of opening cash balance is shown below:

    = Cash disbursements + ending cash balance - cash receipts

    = $103,150 + $18,600 - $102,500

    = $19,250
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Home » Business » g 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. On September 30, Valerian Co.
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