A company had credit sales of $40,000 and cash sales of $14,000 during the month of May.Also during May,the company paid wages of $13,000 and utilities of $2,800.It also received payments from customers on account totaling $8,000.At the beginning of May,the company had a cash balance of $25,000.What is the company's cash balance at the end of May?

Question

Quizplus · Accepted Answer

Beginning Balance Cash $25,000 + Cash Sales $14,000 - Wages paid $13,000 - Utilities paid $2,800 + Cash Collected from Customers $8,000 = $31,200

A Company Had Credit Sales of $40,000 and Cash Sales