FIN + MANAG ACCT 180 DAY CUST CONN ACC
9th Edition
ISBN: 9781266114090
Author: Wild
Publisher: INTER MCG
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The magnitude of operating leverage for Roshan
On September 1, your business had a beginning cash
balance of $500. Your sales for August were $800, and
your sales for September totaled $1,000. During
September, you paid $200 in cash expenses and paid off
$350 of accounts payable. Your accounts receivable
collection period is 30 days.
What is your firm's beginning cash balance on October
1?
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