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Consider the following account starting balances and journal transactions involving these accounts. Use T-accounts to record the starting balances and organize the offsetting entries for
Consider the following account starting balances and journal transactions involving these accounts. Use T-accounts to record the starting balances and organize the offsetting entries for the transactions.
The starting balance of Accounts Receivable is $4,500 The starting balance of Cash is $9,700 The starting balance of Inventory is $3,800
Date | Accounts and Explanation | Debit | Credit |
---|---|---|---|
Jan 19 | Cash | 12 | |
Accounts Receivable | 12 | ||
Received customer payment | |||
Jan 20 | Inventory | 15 | |
Cash | 15 | ||
Bought manufacturing supplies for cash | |||
Jan 21 | Cash | 35 | |
Inventory | 35 | ||
Sold and delivered product to customer at cost |
What is the final amount in Cash?
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