accounts receivable had a balance of $8,100 at the beginning of the month and $3,300 at the end of the month. Credit sales totaled $45,000 during...
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Question

a. accounts receivable had a balance of $8,100 at the beginning of the month and $3,300 at the end of the month.

Credit sales totaled $45,000 during the month. Calculate the cash collected from customers during the month, assuming that all sales were made on account?


b. the Supplies account had a balance of $17,500 at the beginning of the month and $23,300 at the end of the month. The cost of supplies used during the month was $76,100. Calculate the cost of supplies purchased during the month.


c. Wages Payable had a balance of $15,200 at the beginning of the month. During the month, $62,000 of wages were paid to employees. Wages Expense accrued during the month totaled $78,000. Calculate the balance of Wages Payable at the end of the month.


d. Prepare the journal entries for the above transactions

Top Answer

a. cash collected during the month would be 8,100 + 45,000 - 3,300 = 49,800 b. the cost of supplies purchased... View the full answer

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