The final balance of the Cash account would be:

Name: The final balance of the Cash account would be:
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Question

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The total cash inflows for the year were $442,800 (receipts of $369,800 + $73,000 collected by the bank on behalf of the company). The total cash outflows were $308,300 (payments of $283,500 + ending balance of $24,800). Therefore, the final balance of the Cash account would be $134,500 ($442,800 - $308,300).

The Final Balance of the Cash Account Would Be