As of the beginning of the quarter,Lester's Market had a cash balance of $326.During the quarter the market paid suppliers $310,collected $418 on its accounts receivables,paid an interest payment of $32,and a tax bill of $184.In addition,the market borrowed $80.What was the cash balance at the end of the quarter?

Question

Quizplus · Accepted Answer

The correct answer is A because the cash balance at the beginning of the quarter was $326. The market paid suppliers $310, collected $418 on its accounts receivables, paid an interest payment of $32, and a tax bill of $184. In addition, the market borrowed $80. So, the cash balance at the end of the quarter is $326 - $310 + $418 - $32 - $184 + $80 = $298.

As of the Beginning of the Quarter,Lester's Market Had a Cash