Problem 1: 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?
Problem 2: 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.
Problem 3: 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.
Problem 4: Prepare the journal entries for the above transactions.
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