Use the information in each of the following separate cases to calculate the unknown amount a 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 ...

a Beginning accounts payable credit 152000 Purchases on account in ...

Use the information in each of the following separate cases to calculate the unknown amount. a. Corentine

Question:

Use the information in each of the following separate cases to calculate the unknown amount.
a. Corentine Co. had $152,000 of 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 during October.
b. On September 30, Valerian Co. had a $102,500 balance in During October, the company collected $102,890 from its credit customers. The October 31 balance in was $89,000. Determine the amount of sales on account that occurred in October.
c. 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.

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...