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During April 2024, its first month of operations, Melody LLC had the following cash transactions: • Initial owner investment: $75,000 . Cash revenues: $23,000 Operating expenses paid: $28,000 Assuming no other transactions affected the cash account, what is the balance in the cash account at April 30?

During April 2024, its first month of operations, Melody LLC had the following cash transactions: • Initial owner investment: $75,000 . Cash revenues: $23,000 Operating expenses paid: $28,000 Assuming no other transactions affected the cash account, what is the balance in the cash account at April 30?

FINANCIAL ACCOUNTING
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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During April 2024, its first month of operations, Melody LLC had the following cash transactions: • Initial owner investment: $75,000 . Cash revenues: $23,000 Operating expenses paid: $28,000 Assuming no other transactions affected the cash account, what is the balance in the cash account at April 30?
Transcribed Image Text:During April 2024, its first month of operations, Melody LLC had the following cash transactions: • Initial owner investment: $75,000 . Cash revenues: $23,000 Operating expenses paid: $28,000 Assuming no other transactions affected the cash account, what is the balance in the cash account at April 30?
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