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Consider the Following Information from the Cash Account

Question 101

Essay

Consider the following information from the cash account. Assume cash payments were 84% of collections. Consider the following information from the cash account. Assume cash payments were 84% of collections. How much was the beginning balance of the cash account? How much was the beginning balance of the cash account?

Correct Answer:

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$245,000 × 84% = $20...

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