If the opening balance of cash for one month is $20,000, cash receipts are estimated to be $398,000 and cash payments are estimated as $300,000, the opening cash balance at the beginning of the next month is:

Question

Quizplus · Accepted Answer

The opening cash balance for the next month is calculated by adding the cash receipts to the opening balance and then subtracting the cash payments: $20,000 + $398,000 - $300,000 = $118,000.

If the Opening Balance of Cash for One Month Is