Answered: During the month of December, Hawthorne…

During the month of December, Hawthorne Enterprises had cash receipts of $4,800 and paid out $1,200 for expenses. The December 31st cash balance was $6,500. What was the cash balance on December 1st?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter2: Introduction To Financial Statements

Section: Chapter Questions

Problem 7EA: Forest Company had the following transactions during the month of December. What is the December 31...

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Question

I am trying to find the accurate solution to this general accounting problem with the correct explanation.

During the month of December, Hawthorne Enterprises had cash
receipts of $4,800 and paid out $1,200 for expenses. The
December 31st cash balance was $6,500. What was the cash
balance on December 1st?

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