During February 2011, its first month of operations, the owner of Alona Enterprises invested cash of $50,000. Alona had cash revenues of $8,000 and paid expenses of $14,000. Assuming no other transactions impacted the cash account, what is the balance in Cash at February 28? $6,000 credit. $44,000 debit. $58,000 debit. $36,000 credit.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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  1. During February 2011, its first month of operations, the owner of Alona Enterprises invested cash of $50,000. Alona had cash revenues of $8,000 and paid expenses of $14,000. Assuming no other transactions impacted the cash account, what is the balance in Cash at February 28?
  2. $6,000 credit.
  3. $44,000 debit.
  4. $58,000 debit.
  5. $36,000 credit.
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