1.

The T-account for Cash has the following transactions: Debit for cash sales of $90,000, credit for the purchase of inventory for $10,000, and credit for payment of utilities for $1,000. Given this information, what is the ending balance in the Cash T-Account?

$81,000

$101,000

$79,000

$80,000

2.

Which financial statement would show accounts payable and account receivable?

Statement of Retained Earnings

Dividend Statement

Balance Sheet

Income Statement