The following events pertain to The Craft Shop, which began operations in October 2014. The company uses the perpetual inventory method.
Required:
a. What was the amount of cash that The Craft Shop paid on October 10?
b. What was the amount of cash that The Craft Shop collected on October 12?
c. What was the balance in The Craft Shop's cash account at the end of the day on October 12?

Question

The following events pertain to The Craft Shop, which began operations in October 2014. The company uses the perpetual inventory method.  
Required:
a. What was the amount of cash that The Craft Shop paid on October 10?
b. What was the amount of cash that The Craft Shop collected on October 12?
c. What was the balance in The Craft Shop's cash account at the end of the day on October 12?

Quizplus · Accepted Answer

The Answer of The following events pertain to The Craft Shop, which began operations in October 2014. The company uses the perpetual inventory method.  
Required:
a. What was the amount of cash that The Craft Shop paid on October 10?
b. What was the amount of cash that The Craft Shop collected on October 12?
c. What was the balance in The Craft Shop's cash account at the end of the day on October 12?

The Following Events Pertain to the Craft Shop, Which Began