Ace,Inc.had the following transactions during June: Performed services for $5,000 on account; received cash on account,$7,000; paid $600 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?
A) $4,400 increase
B) $4,400 decrease
C) $7,000 increase
D) $2,600 decrease
Correct Answer:
Verified
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