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A small antiques seller has been trading for two months. In this time he: (1) Paid in 4,000 cash as capital (2) Paid two months'
A small antiques seller has been trading for two months. In this time he: (1) Paid in 4,000 cash as capital (2) Paid two months' rent for a stall. The annual rental was 1,800 (3) Purchased inventory worth 625 on credit (4) Spent 420 cash on additional inventory purchases (5) Sales in the first month amounted to 380 (6) A further 530 of sales were made in the second month (7) Took 200 from the business at the end of each month as wages (8) All sales were for cash. 650 worth of stock was sold in the period. contains two parts A small antiques seller has been trading for two months, In this time he: (1) Paid in 4,000 cash as capital (2) Paid two months' rent for a stall. The annual rental was 1,800 (3) Purchased inventory worth 625 on credit (4) Spent 420 cash on additional inventory purchases (5) Sales in the first month amounted to 380 (6) A further 530 of sales were made in the second month (7) Took 200 from the business at the end of each month as wages (8) All sales were for cash. 650 worth of stock was sold in the period. What is the antiques seller's cash balance at the end of the two-month period
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