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Cerrena [4.2K]
3 years ago
8

The following transactions occurred during July: 1. Received $1,350 cash for services performed during July. 2. Received $6,950

cash from the issuance of common stock to owners. 3. Received $675 from a customer as payment for services performed during June. 4. Billed $4,400 to customers for services performed on account in July. 5. Borrowed $3,000 from the bank and signed a promissory note. 6. Received $1,825 from a customer for services to be performed during August. As a result of these transactions, what is the amount of the increase to the Cash account
Business
1 answer:
algol [13]3 years ago
5 0

Answer:

$13,800

Explanation:

The amount of the increase to the cash account is shown below:

= Received cash + received cash + received cash + borrowed amount + received cash

= $1,350 + $6,950 + $675 + $3,000 + $1,825

= $13,800

Hence, the above formula is applied

Therefore the increase in cash account is $13,800

And, the same is to be considered

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