Question
Wine Stop opened a new store and completed the following transactions during June: 1. Shareholders invested $90,000 cash in exchange for common stock. 2. Purchased
Wine Stop opened a new store and completed the following transactions during June: 1. Shareholders invested $90,000 cash in exchange for common stock. 2. Purchased a delivery truck for $15,000 cash. 3. Purchased $3,400 of wine on account. Paid $3,000 of the balance. At the end of the month, $400 of inventory remained on hand. 4. Paid $6,600 for selling expenses. 5. Sold wine to customers and collected $18,000 cash. Billed corporate clients for an additional $2,400 of wine delivered during June.
How much will the company report on its balance sheet as Cash on June 30?
$47,400
$56,800
$64,600
$83,400
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