Consider the following information taken from the cash account. Assume cash payments were 80% of collections. How much was the beginning balance of the cash account?
A)$57,200
B)$92,300
C)$103,350
D)$35,100

Question

Consider the following information taken from the cash account. Assume cash payments were 80% of collections.  How much was the beginning balance of the cash account?
A)$57,200 
B)$92,300 
C)$103,350 
D)$35,100

Quizplus · Accepted Answer

The Answer of Consider the following information taken from the cash account. Assume cash payments were 80% of collections.  How much was the beginning balance of the cash account?
A)$57,200 
B)$92,300 
C)$103,350 
D)$35,100

Consider the Following Information Taken from the Cash Account