Asked by
Raymond Soriño
on Nov 14, 2024
Verified
In the first month of operations the total of the debit entries to the cash account amounted to $1400 and the total of the credit entries to the cash account amounted to $800. The cash account has a(n)
A) $800 credit balance.
B) $1400 debit balance.
C) $600 debit balance.
D) $600 credit balance.
Debit Entries
Accounting entries that increase an asset or expense account, or decrease a liability or equity account.
Credit Entries
Bookkeeping records that increase liabilities or equity or decrease assets on a company's balance sheet.
- Explore the effect that transactions have on cash balance.
Verified Answer
AG
Learning Objectives
- Explore the effect that transactions have on cash balance.