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ABC Delivery Service Had the Following Transactions in June: Earned

Question 22

Multiple Choice

ABC Delivery Service had the following transactions in June: Earned $4,000 cash for services rendered; collected $2,500 from a customer "on account;" paid out $200 cash for plumbing services; received $3,500 of supplies and promised to pay one month later; paid out $1,000 in cash drawings to the owner.
-What is the combined effect on Cash of the June transactions?


A) Up $1,800
B) Down $300
C) Down $6,300
D) Up $5,300

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