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Nezavi [6.7K]
3 years ago
8

The cash account had a normal balance of $48,000 at the beginning of the month. during the month, langdon company received cash

payments from its customers of $22,000 and made cash payments of $8,000 for expenses incurred and $6,000 on account. the balance in the cash account after posting these transactions is
Business
1 answer:
jeka943 years ago
5 0

Calculation of balance in cash account after posting the given transactions;


Cash account normal (Debit) balance $48,000

Add: Cash received from Customers $22,000

Less: Cash Paid for Expenses incurred $8,000

Cash Balance = (48000+22000-8000) = $62,000

(Note: Expenses on account $6,000 shall not affect the cash balance as there is no cash transaction)


Hence the balance in cash account after posting the given transactions shall be <u>$62,000</u>


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<h3 /><h3>What is a down payment?</h3>

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According to the question,

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t= 12\times3\text{Years}=36 \text{Months}.

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Let X be the amount of payment that is given in the starting.

\text{Monthly Payment} = \dfrac{\text{(List Price - x) r }}{1-(1+r)}}\\\\\\\$773.89 = \dfrac{(22,49-\text{x )0.0085533}}{1-(1+0.0085533)}\\\\\text{x}=$23889.84

The amount of down payment would be:

\text{Down Payment}=\text{Total Amount - Down Payment}\\\\\\\text{Down Payment}=\$26,690-\$23889.84\\\\\text{Down Payment}=\$2,801 \text{App.}

Hence, Option D is correct.

Learn more about the down payment, refer:

brainly.com/question/1114543

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