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

Question:

Use the information in each of the following separate cases to calculate the unknown amount.
a. During October, Alcorn Company had $104,750 of cash receipts and $101,607 of cash disbursements. The October 31 Cash balance was $17,069. Determine how much cash the company had at the close of business on September 30.
b. On September 30, Mordish Co. had a $83,250 balance in During October, the company collected $75,924 from its credit customers. The October 31 balance in was $85,830. Determine the amount of sales on account that occurred in October.
c. Strong Co. had $148,000 of on September 30 and $137,492 on October 31. Total purchases on account during October were $271,876. Determine how much cash was paid on during October.

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...