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Consider the following information taken from the cash account. Assume cash payments were 80% of collections. Cash ?? Beg. balance $115,375 Collections ?? Disbursements $80,275
Consider the following information taken from the cash account. Assume cash payments were 80% of collections.
| Cash | |
| ?? | Beg. balance |
| $115,375 | Collections |
| ?? | Disbursements |
| $80,275 | End balance |
How much was the beginning balance of the cash account?
a.$57,200
b.$35,100
c.$103,350
d.$92,300
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Financial Accounting For Decision Makers
Authors: Mark DeFond
2nd Edition
1618533142, 9781618533142
