Use the information in each of the following separate cases to calculate the unknown amount.
a. Corentine Company had $172,000 of accounts payable on September 30 and $142,500 on October 31. Total purchases on credit
during October were $301,000. Determine how much cash was paid on accounts payable during October.
b. On September 30, Valerian Company had a $112,500 balance in Accounts Receivable. During October, the company collected
$112,890 from its credit customers. The October 31 balance in Accounts Receivable was $109,000. Determine the amount of sales
on credit that occurred in October.
c. During October, Alameda Company had $122,500 of cash receipts and $123,150 of cash disbursements. The October 31 Cash
balance was $28,600. 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 Company had $172,000 of accounts payable on September 30 and $142,500 on October 31. Total purchases
on credit during October were $301,000. Determine how much cash was paid on accounts payable during October.
Accounts Payable
Ending balance
< Required A
Required B >
