Question

If the beginning Cash account balance of Moonbeam, Inc. was $40,000, the ending balance was $67,200, and the total cash paid out during the period was $128,000, what amount of cash was received during the period

Answer 1

Answer:

Cash Received during the period = $155200

Explanation:

The amount of receipts or cash received during the period can be calculated using the following formula.

Cash Received = Closing Balance + Cash Disbursements - Opening Balance

Cash Received = 67200 + 128000 - 40000

Cash Received = $155200

So, the cash receipts during the period are $155200.