Calculate the Following: (A) Determine the Cash Receipts for May

question 40

Essay

Calculate the following: (a) Determine the cash receipts for May based on the following data:
$\begin{array}{lr}\text { Cash payments during May } & \$ 42,500 \\\text { Cash account balance, May 1 } & 3,750 \\\text { Cash account balance, May 31 } & 6,000\end{array}$
(b) Determine the cash received from customers on account during May based on the following data:
$\begin{array}{l}\text { following data: }\\\text { Accounts receivable account balance, May 1 } & \$ 11,500 \\\text { Accounts receivable account balance, May 31 } & 8,250 \\\text { Fees billed to customers during May } & 28,000\end{array}$

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