At October 1, 2022, Landon Services reported a cash balance of $52,000. During the month, the company collected $18,000 in cash and made disbursements totalling $30,000. What is the cash balance at October 31, 2022? • a. $40,000 debit • b. $36,000 credit . c. $70,000 debit . d. $28,000 debit

At October 1, 2022, Landon Services reported a cash balance of $52,000. During the month, the company collected $18,000 in cash and made disbursements totalling $30,000. What is the cash balance at October 31, 2022? • a. $40,000 debit • b. $36,000 credit . c. $70,000 debit . d. $28,000 debit

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 23CE: Cash Receipts from Customers Singleton Inc. had accounts receivable of $22,150 at January 1, 2019,...

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Question

Can you solve this general accounting problem using appropriate accounting principles?

At October 1, 2022, Landon Services reported a cash balance of
$52,000. During the month, the company collected $18,000 in cash
and made disbursements totalling $30,000.
What is the cash balance at October 31, 2022?
•
a. $40,000 debit
•
b. $36,000 credit
.
c. $70,000 debit
. d. $28,000 debit

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