a. On April 1, the cash account balance was $7,850. During April, cash receipts totaled $41,850, and

Question:

a. On April 1, the cash account balance was $7,850. During April, cash receipts totaled $41,850, and the April 30 balance was $9,150. Determine the cash payments made during April.
b. On July 1, the account balance was $15,500. During July, $61,000 was collected from customers on account. Assuming the July 31 balance was $17,500, determine the fees billed to customers on account during July.
c. During January, $40,500 was paid to creditors on account, and purchases on account were $57,700. Assuming the January 31 balance of was $38,000, determine the account balance on January 1.

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...