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Rzqust [24]
2 years ago
14

Use the following information to answer the next two questions: A company had the following transactions during September, the f

irst month of its operations: Issued 20,000 shares of common stock in exchange for $400,000. Purchased equipment for $200,000, using a $100,000 cash down payment and signing a note payable for the balance. Received $1,000 from a customer for services to be performed in November. Made a $30,000 payment on the note payable from the purchase of the land. Total monthly sales: Cash sales $50,000 Credit Sales (Acct. Receivable): $18,000 Purchased supplies on credit for $23,000. Collected $8,000 from customers on account. Paid $2,500 for September employee wages. Received a utility bill for $500 which will be paid next month. What is the balance in the Cash account at the end of September
Business
1 answer:
horsena [70]2 years ago
4 0

Answer: 326,500

I’m not 100% sure why,but I had the same question on an assignment and that was the answer.

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