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On April 1st,a Firm Had a Beginning Cash Balance of $239.March

Question 68

Multiple Choice

On April 1st,a firm had a beginning cash balance of $239.March sales were $474 and April sales were $463.During April,the firm had cash expenses of $135 and payments on accounts payable of $212.The accounts receivable period is 30 days.What is the firm's beginning cash balance on May 1st? Assume a 360-day year.


A) $397
B) $366
C) $419
D) $382
E) $355

Correct Answer:

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