Question

During the month of february, victor services had cash receipts of $7,500 and cash disbursements of $8,600. the february 28 cash balance was $1,800. what was the february 1 beginning cash balance

Answer 1

700

Step-by-step explanation:

Answer 2

So you would simply need to set up a formula and solve

X= beginning cash

X+ income - expenses = cash balance

income = cash receipts (7,500)

expenses = cash disbursements (8,600)

Cash Balance = 1,800

Plug into the equation

X + 7,500 - 8,600 = 1,800

Then you would solve for X