Question
Consider the following information from the cash account. Assume cash payments were 84% of collections. How much was the beginning balance of the Cash account
Consider the following information from the cash account. Assume cash payments were 84% of collections.
How much was the beginning balance of the Cash account and the amount of the disbursements?
| Cash | |
| $ | Beg. Balance |
| $245,000 | Collections |
| $ | Disbursements |
| $80,275 | End Balance |
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Accounting Tools for business decision making
Authors: kimmel, weygandt, kieso
4th Edition
ISBN: 978-0470117262, 9780470534786, 470117265, 470534788, 978-0470095461
