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Ace, Inc. had the following transactions during June: Performed services for $5,000 on account; received cash on account, $7,000; paid $600 for repair expense; paid

Ace, Inc. had the following transactions during June:

Performed services for $5,000 on account; received cash on account, $7,000; paid $600 for repair expense; paid $2,000 to a supplier that it owed from the previous month. What is the combined effect on Cash of the June transactions?

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