starting balance of Accounts Receivable is $3,400 The starting balance of Cash is $9,000 The starting balance of Inventory is $5
1 answer:
Answer:
The final amount in Cash is $9,034
Explanation:
1.
As cash is received, the cash balance is increased by $10, and account receivables are decreased by $10.
2.
As cash is paid for the purchase the cash balance is decreased by $16 and inventory value will increase by $16.
3.
As the sale is made for cash, the cash balance is increased by $40, and the inventory balance is decreased by the same value.
Cash balance = $9,000 + $10 - $16 + $40 = $9,034
The working is attached with this answer please find it.
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Answer:
Please find the complete question in the attached file.
Explanation:
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