During the month of November,Cornish Company had cash receipts of $3,500 and paid out $1,000 for expenses.The November 30^th cash balance was $4,300.What was the cash balance on November 1? A) $1,800. B) $2,800. C) $4,300. D) $5,800. E) $7,300.

Question

Quizplus · Accepted Answer

Beginning cash balance + Cash receipts - Cash paid out = Ending cash balance$x + $3,500 - $1,000 = $4,300$x = $1,800

During the Month of November,Cornish Company Had Cash Receipts of $3,500