BrightLight Corporation's petty cash shows opening balance $2,000, reimbursements $8,000, and payments $7,500. Calculate the closing petty cash balance. A) $2,500 B) $2,700 C) $2,900 D) $3,000

College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 7E
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Calculate the closing petty cash balance.

BrightLight Corporation's petty cash shows
opening balance $2,000, reimbursements
$8,000, and payments $7,500. Calculate
the closing petty cash balance.
A) $2,500
B) $2,700
C) $2,900
D) $3,000
Transcribed Image Text:BrightLight Corporation's petty cash shows opening balance $2,000, reimbursements $8,000, and payments $7,500. Calculate the closing petty cash balance. A) $2,500 B) $2,700 C) $2,900 D) $3,000
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