Ace Inc.had the following transactions in June: Sold goods for $4,000 on account; received cash on account,$5,000; paid $800 for repair expense; paid $2,000 to a supplier that it owed from the previous month.What is the combined effect on Cash of the June transactions?

Question

Quizplus · Accepted Answer

The cash account increased by $5,000 from cash received on account and decreased by $800 for repair expenses and $2,000 for payment to a supplier, resulting in a net increase of $2,200.

Ace IncHad the Following Transactions in June: Sold Goods for $4,000