Use the information in each of the following separate cases to calculate the unknown amount. Corentine Co. had $171,000 of accounts payable on September 30 and $142,000 on October 31. Total purchases on credit during October were $300,000. Determine how much cash was paid on accounts payable during October. On September 30, Valerian Co. had a $112,000 balance in Accounts Receivable. During October, the company collected $112,390 from its credit customers. The October 31 balance in Accounts Receivable was $108,000. Determine the amount of sales on credit that occurred in October. During October, Alameda Company had $121,500 of cash receipts and $122,150 of cash disbursements. The October 31 Cash balance was $28,100. Determine how much cash the company had at the close of business on September 30.

Respuesta :

Answer:

1. $329,000

2.$108,390

3. $28,750

Explanation:

1. The computation of cash paid is below

= Opening balance of accounts payable + Purchase made - Ending balance of account payable

= $171,000 + $300,000 - $142,000

= $329,000

2. Computation of sales

= Ending balance of accounts receivable + Cash receipts -Opening balance of accounts receivable

= $108,000 + $112,390 - $112,000

= $108,390

3. Opening cash balance

= Cash disbursements + Ending cash balance - Cash receipts

= $122,150 + $28,100 - $121,500

= $28,750