The manager of needs to compute the following amounts: a. Total cash paid during .
b. Cash collections from credit customers during . Analyze Accounts Receivable.
c. Cash paid on a note payable during . Analyze Notes Payable. Here's the additional data you need to analyze the accounts:

Account 30-Nov 31-Dec Additional information for the month of december
1. Cash $10,000 $5,000 Cash receipts, $96,000
2. Accounts Receivable 27,000 25,000 Sales on account, $47,000
3. Notes Payable 11,000 19,000 New borrowing, $28,000

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

Computation of the following amounts:

a. Total cash paid during the month:

= $101,000

b. Cash collections from credit customers during the month:

= $49,000

c. Cash paid on a note payable during the month:

= $20,000

Explanation:

A) Data and Calculations:

Account                            30-Nov        31-Dec  Additional during December

1. Cash                               $10,000   $5,000   Cash receipts, $96,000

2. Accounts Receivable    27,000    25,000   Sales on account, $47,000

3. Notes Payable                 11,000    19,000    New borrowing, $28,000

B) T-accounts:

1. Cash Account

Description            Debit     Credit

Balance                $10,000

Cash receipts       96,000

Cash payments                  101,000

Balance                               $5,000

2. Accounts Receivable

Description            Debit     Credit

Balance                27,000

Sales on account 47,000

Cash receipts                     49,000

Balance                               25,000

3. Notes Payable

Description            Debit     Credit

Balance                                11,000

New borrowing                  28,000

Cash payment   20,000

Balance                19,000    

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

answer; organizational;