Answer:
(A) Ending Balance is $ 3,300
(B) Ending Balance is $6,300
Explanation:
(A) Ending Balance :
$
Opening Balance 0
Inflow from Bank Loan 20,000
Purchase equipment (20,000)
Cash Receipt from customer 26,000
Utilities payment ( 2,000)
Bank loan repayment (20,000)
Supplies purchased <u> ( 700)</u>
Cash closing Balance <u> 3,300 </u>
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(B)
Opening Balance 3,000
Inflow from Bank Loan 20,000
Purchase equipment (20,000)
Cash Receipt from customer 26,000
Utilities payment ( 2,000)
Bank loan repayment (20,000)
Supplies purchased <u> ( 700)</u>
Cash closing Balance <u> 6,300 </u>
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