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Lucky Companys controller accidentally erased the 8/1/21 balance for the Cash account. However, she can see that the 8/31/21 Cash balance is $700,000, the company

  1. Lucky Companys controller accidentally erased the 8/1/21 balance for the Cash account. However, she can see that the 8/31/21 Cash balance is $700,000, the company collected $1,800,000 cash during August 2021 and paid $2,000,000 cash during August 2021. What was the 8/1/21 Cash balance?
    1. $1,100,000
    2. $700,000
    3. $500,000
    4. $900,000

  1. Which of the following accounts is decreased with a CREDIT?
    1. Unearned Revenue
    2. Supplies
    3. Fees Earned
    4. Wages Payable

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