On August 1, your company had a beginning cash balance of $210. Your sales for July were $520 and your August sales were $590. During August you had cash expenses of $130 and payments on your accounts payable of $310. Your accounts receivable period is 30 days. What is your company's beginning cash balance on September 1?

On August 1, your company had a beginning cash balance of $210. Your sales for July were $520 and your August sales were $590. During August you had cash expenses of $130 and payments on your accounts payable of $310. Your accounts receivable period is 30 days. What is your company's beginning cash balance on September 1?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 5EA: Catherines Cookies has a beginning balance in the Accounts Payable control total account of $8,200....

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