Exercise 2-6 Analyzing account entries and balances LO A1 Use the information in each of the following separate cases to calculate the unknown amount. Corentine Co. had $156,000 of accounts payable on September 30 and $134,500 on October 31. Total purchases on account during October were $285,000. Determine how much cash was paid on accounts payable during October. On September 30, Valerian Co. had a $104,500 balance in Accounts Receivable. During October, the company collected $104,890 from its credit customers. The October 31 balance in Accounts Receivable was $93,000. Determine the amount of sales on account that occurred in October. During October, Alameda Company had $106,500 of cash receipts and $107,150 of cash disbursements. The October 31 Cash balance was $20,600. Determine how much cash the company had at the close of business on September 30.
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Exercise 2-6 Analyzing account entries and balances LO A1 Use the information in each of the followi...
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