On January 1 Joe's Hardware Store Ltd.had $2,300 in cash,and had neither accounts receivable nor payable outstanding.During the month of January,the store had received orders from two contractors for building materials for $20,500,each,which would be paid at the end of the month.During the month,the store had expenses of $15,500 for salaries,$40,500 for inventory,and $2,200 of utilities.What would be Joe's Hardware Store Ltd.cash balance at the end of the month?

Question

Quizplus · Accepted Answer

$15,500+$40,500+$2,200 = $58,200,(2*$20,500)+$2,300=$43,300,$43,300-$58,200=-$14,900