Schultz Tax Services, a Tax Preparation Business Had the Following

Essay

Schultz Tax Services, a tax preparation business had the following transactions during the month of June:
1. Received cash for providing accounting services, $3,000.
2. Billed customers on account for providing services, $7,000.
3. Paid advertising expense, $800.
4. Received cash from customers on account, $3,800.
5. paid cash dividends, $1,500.
6. Received telephone bill, $220.
7. Paid telephone bill, $220
Based on the information given above, calculate the balance of Cash at June 30. (Hint: Use the following reconciliation.)
$\begin{array}{lr}\text { Cash, June } 1 & \$ 25,000 \\\text { Plus: cash receipts for June } & \_\_\_ \\\text { Minus: cash payments for June } & \_\_\_\\\text { Cash, June } 30&\_\_\_\end{array}$