Andy Company had a cash balance on May 1 of $ 30,000. At the end of May, the cash balance has increased to $ 33,000. During the

Question

3 years ago

14

Andy Company had a cash balance on May 1 of $ 30,000. At the end of May, the cash balance has increased to $ 33,000. During the

month of May, Andy received cash of $ 47,000 from various sources. Based on this information, cash payments for the month of May were:________.A. $44,000.
B. $75,000.
C. $27,000.
D. $31,000.

Business

1 answer:

PIT_PIT [208] · Answer 1 · 2022-07-12T05:11:26+03:00

Answer:

The correct answer is A

Explanation:

The Cash payments for the month of may is computed as:

Cash payment = Cash balance on May 1 + Cash received during the month - Cash balance increased

where

Cash balance on May 1 is $30,000

Cash received during the month is $47,000

Cash balance increased is $33,000

Putting the values above:

Cash payments = $30,000 + $47,000 - $33,000

= $77,000 - $33,000

= $44,000

Andy Company had a cash balance on May 1 of $ 30,000. At the end of​ May, the cash balance has increased to $ 33,000. During the

Andy Company had a cash balance on May 1 of $ 30,000. At the end of May, the cash balance has increased to $ 33,000. During the