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The following entries were made by the accountant of Patel Pastries during its first month of operation: 1. James Patel, the owner, deposited $3,000 in
The following entries were made by the accountant of Patel Pastries during its first month of operation:
1. James Patel, the owner, deposited $3,000 in the business's new checking account.
2. Patel Pastries paid the first month's rent of $400 in cash.
3. Patel Pastries purchased equipment by signing a note payable of $11,000.
4. Cash sales for the month were $4,500.
5. Patel Pastries purchased cooking supplies for $1,400 cash.
After the accountant posts these entries to the general ledger, what is the balance in the Cash account?
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