Oreon Services was organized on May 1,2014.The company received a contribution of $2,000 from each of the two principal owners.During the month,Oreon Services provided services for cash of $1,400 and services on account for $600,received $350 from customers in payment of their accounts,purchased supplies on account for $800 and equipment on account for $1,050,received a utility bill for $150 that will not be paid until June,and paid the full amount due on the equipment.
REQUIRED: Show your work to determine the company's Cash balance on May 31,2014.

Question

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The Answer of Oreon Services was organized on May 1,2014.The company received a contribution of $2,000 from each of the two principal owners.During the month,Oreon Services provided services for cash of $1,400 and services on account for $600,received $350 from customers in payment of their accounts,purchased supplies on account for $800 and equipment on account for $1,050,received a utility bill for $150 that will not be paid until June,and paid the full amount due on the equipment.
REQUIRED: Show your work to determine the company's Cash balance on May 31,2014.

Oreon Services Was Organized on May 1,2014