The following financial statements were prepared at the end of the month of May:

TOPS IN TOPIARY $-$ INCOME STATEMENT FOR the month of May

Revenue $ $2,540$

Expenses:

Rent Expense $ $500$

Advertising Expense $ $500$

Wages Expense $ $200$ $ $1,200$

Net Income $ $1,340$

TOPS IN TOPIARY $-$ STATEMENT OF OWNER'S EQUITY FOR the month of MAY

Owner's Equity at May $1$ $ $0$

plus: Investment $2,000$

plus: Net Income $1,340$

less: Withdrawals $0$

Owner's Equity at May $31$ $ $3,340$

TOPS IN TOPIARY $-$ BALANCE SHEET AS OF MAY $31$

ASSETS LIABILITES AND OWNER'S EQUITY

Current Assets: Current Liabilities:

Cash $ $1,380$ Accounts Payable $ $300$

Accounts Receivable $ $1,500$ Advertising Payable $ $500$

Prepaid Rent $ $500$ Advances from Customers $ $200$

Prepaid Advertising $ $500$

Supplies $ $100$ $ $3,980$

Equipment $ $360$ Owner's Equity $ $3,340$

Total Assets $ $4,340$ Total Liabilities & OE $ $4,340$

During June the following transactions occurred:

$1)$ Paid the helper the $$1,000$ owed from works done in May $($the amount owed is in Accounts Payable$).$

$2)$ Completed the job for which the customer paid $$200$ in May. Tops in Topiary collected $$2,000$ in cash once finished.

$3)$ Paid $$500$ for the rent of July.

$4)$ At the end of June notices that there are no supplies left. Makes a note to buy some in July.

$5)$ At the end of June notices that there are few flyers left $($used for advertising$)$ worth $$200$ and decides to order some for July. Before ordering, the printer $($supplier of flyers$)$ asks to be paid $$600$ of the amount owed for the flyers done in May. Tops in Topiary pays $$600.$

$6)$ In June collected in cash $$3,000$ for $3$ jobs are done for a total of $$4,500,$ the rest is owed in account by the customers.

$7)$ In June decided to start depreciating the equipment bought for $$360$ that is expected to last for $3$ years.

$8)$ In June $23$rd Edward Scissorhands withdrew some cash for personal reasons $($$$2,000).$

Prepare $"$T$"$ Accounts in ACCRUAL Basis for the period ended on June $30$th and then answer the questions.

At the end of the accounting period $($June $30$th$,$ T account after AJE$),$ what is the balance of Cash$/$Bank account $($use only one account for all cash$/$cheque transactions$)$

Multiple Choice

Between $$1,600$ and $$2,000$

More than $$2,000$

Between $$1,200$ and $$1,599$

Less than $$800$

Between $$800$ and $$1,199$