During April 2021, its first month of operations, the owner of X company invested cash of $25,000. The company had revenues of $4,000 out of which 40% were collected in cash. In addition, the company paid operating expenses of $7,000. Assuming no other transactions impacted the cash account, what is the balance in Cash on April 30, 2021? * O $20,400 debit O $19,600 debit $26,600 debit None of the above

During April 2021, its first month of operations, the owner of X company invested cash of $25,000. The company had revenues of $4,000 out of which 40% were collected in cash. In addition, the company paid operating expenses of $7,000. Assuming no other transactions impacted the cash account, what is the balance in Cash on April 30, 2021? * O $20,400 debit O $19,600 debit $26,600 debit None of the above

Name: During April 2021, its first month ofoperations, the owner of X compa
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Description: During April 2021, its first month ofoperations, the owner of X companyinvested cash of $25,000. Thecompany had revenues of $4,000 outof which 40% were collected in cash. Inaddition, the company paid operatingexpenses of $7,000. Assuming noother tra

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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