The manager of West Industries Furniture needs to compute the following amounts:

a. Total cash paid during December.

b. Cash collections from credit customers during December. Analyze Accounts Receivable.

c. Cash paid on a note payable during December. Analyze Notes Payable. Here’s the additional data you need to analyze the accounts:

Requirement

Prepare a T-account to compute each amount, a through c.

Transcribed Image Text:

Balance Additional Information Account Nov 30 Dec 31 for the Month of December $14,500 $ 7,250 Cash receipts, $99,000 Sales on account, $49,000 New borrowing, $28,000 1. Cash... 2. Accounts Receivable.. 29,000 15,500 27,000 23,500 3. Notes Payable .