Schultz Tax Services, a tax preparation business, had the following transactions during the month of June:
1. Received cash for providing accounting services, $3,000.
2. Billed customers on account for providing services, $7,000.
3. Paid advertising expense, $800.
4. Received cash from customers on account, $3,800.
5. Owner made a withdrawal, $1,500.
6. Received telephone bill, $220.
7. Paid telephone bill, $220.
Based on the information given above, calculate the balance of cash at June 30. Use the following reconciliation.

Question

Schultz Tax Services, a tax preparation business, had the following transactions during the month of June:​
1. Received cash for providing accounting services, $3,000.
2. Billed customers on account for providing services, $7,000.
3. Paid advertising expense, $800.
4. Received cash from customers on account, $3,800.
5. Owner made a withdrawal, $1,500.
6. Received telephone bill, $220.
7. Paid telephone bill, $220.​​
Based on the information given above, calculate the balance of cash at June 30. Use the following reconciliation.​

Quizplus · Accepted Answer

The Answer of Schultz Tax Services, a tax preparation business, had the following transactions during the month of June:​
1. Received cash for providing accounting services, $3,000.
2. Billed customers on account for providing services, $7,000.
3. Paid advertising expense, $800.
4. Received cash from customers on account, $3,800.
5. Owner made a withdrawal, $1,500.
6. Received telephone bill, $220.
7. Paid telephone bill, $220.​​
Based on the information given above, calculate the balance of cash at June 30. Use the following reconciliation.​

Schultz Tax Services, a Tax Preparation Business, Had the Following