Multiple Choice
Diamond Company had the following transactions during June: Performed services for $3,000 on account; received cash on account,$8,000; paid $900 for repair expense; paid $1,600 to a supplier that it owed from the previous month.What is the combined effect on Cash of these June transactions?
A) $5,500 increase
B) $5,500 decrease
C) $8,000 increase
D) $2,500 decrease
Correct Answer:
Verified
Correct Answer:
Verified
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