a During February, $186,500 was paid to creditors on account, and purchases on account were $201,400 Assuming the February 28 balance of Accounts Payable was $59,900 determine the account balance on February 1 b On October 1, the accounts receivable account balance was $115,800 During October, $449...

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a. During February, $186,500 was paid to creditors on account, and purchases on account were $201,400. Assuming

Question:

a. During February, $186,500 was paid to creditors on account, and purchases on account were $201,400. Assuming the February 28 balance of was $59,900 determine the account balance on February 1.
b. On October 1, the account balance was $115,800. During October, $449,600 was collected from customers on account. Assuming the October 31 balance was $130,770 determine the fees billed to customers on account during October.
c. On April 1, the cash account balance was $46,220. During April, cash receipts totaled $248,600 and the April 30 balance was $56,770. Determine the cash payments made during April.
Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...