At September 1, 2014, Kern Enterprises reported a cash balance of $70,000. During the month, Kern collected cash of $30,000 and made disbursements of $50,000. At September 30, 2014, the cash balance is

Question

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The cash balance at the end of September is calculated by taking the beginning balance of $70,000, adding the cash collected of $30,000, and subtracting the disbursements of $50,000, resulting in a $50,000 debit balance.

At September 1, 2014, Kern Enterprises Reported a Cash Balance