5600 investment by the owner and revenues of $ 20200). The total of the credit entries to the cash account amounted to $ 220 burchase of equipment $ 9000 and payment of expenses $ 13000). At the end of the month, the cash account has a(n) O $6400 debit balance. O $ 13800 credit balance. O $6400 credit balance.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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In the first month of operations for Sheffield Industries, the total of the debit entries to the cash account amounted to $ 35800 ($
15600 investment by the owner and revenues of $ 20200). The total of the credit entries to the cash account amounted to $ 22000
(purchase of equipment $ 9000 and payment of expenses $ 13000). At the end of the month, the cash account has a(n)
O $6400 debit balance.
O $ 13800 credit balance.
O $ 6400 credit balance.
O $ 13800 debit balance.
Transcribed Image Text:In the first month of operations for Sheffield Industries, the total of the debit entries to the cash account amounted to $ 35800 ($ 15600 investment by the owner and revenues of $ 20200). The total of the credit entries to the cash account amounted to $ 22000 (purchase of equipment $ 9000 and payment of expenses $ 13000). At the end of the month, the cash account has a(n) O $6400 debit balance. O $ 13800 credit balance. O $ 6400 credit balance. O $ 13800 debit balance.
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