Andy Company had a cash balance on May 1 of $29,000. At the end of May, the cash balance has decreased to $30,000. During the month of May, Andy received cash of $47,000 from various sources. Based on this information, cash payments for the month of May were:
A)$29,000.
B)$30,000.
C)$46,000.
D)$76,000.

Question

Quizplus · Accepted Answer

Cash payments = Beginning cash balance + Cash received - Ending cash balance= $29,000 + $47,000 - $30,000= $46,000

Andy Company Had a Cash Balance on May 1 of $29,000