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During the month of November, Duffee Company had cash receipts of $3,500 and paid out $1,000 for expenses. The November 30th cash balance was $5,300. What was the cash balance on November 1?

During the month of November, Duffee Company had cash receipts of $3,500 and paid out $1,000 for expenses. The November 30th cash balance was $5,300. What was the cash balance on November 1?

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....
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During the month of November, Duffee Company had cash receipts of $3,500 and paid out $1,000 for expenses. The November 30th cash balance was $5,300. What was the cash balance on November 1?
Transcribed Image Text:During the month of November, Duffee Company had cash receipts of $3,500 and paid out $1,000 for expenses. The November 30th cash balance was $5,300. What was the cash balance on November 1?
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