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Pmatlaisane matlaisane
on Dec 04, 2024

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Zed Bennett opened an art gallery and as a dealer completed these transactions: Started the gallery, Artery, by investing $40,000 cash and equipment valued at $18,000.
2) Purchased $70 of office supplies on credit.
3) Paid $1,200 cash for the receptionist's salary.
4) Sold a painting for an artist and collected a $4,500 cash commission on the sale.
5) Completed an art appraisal and billed the client $200.
What was the balance of the cash account after these transactions were posted?

A) $12,230.
B) $12,430.
C) $43,300.
D) $43,430.
E) $61,430.

Cash Account

An account that records all transactions involving cash, including receipts and payments, reflecting the company's cash flow.

  • Perceive the influence of transactions on the cash balance.
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Sarah MadsenDec 09, 2024
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