Question

On April 1, Nancy Jackson established Jackson's Travel Agency. The following transactions were completed during the month.

1. Invested 14,000 cash to start the agency.
2. Paid600 cash for April office rent.
3. Purchased equipment for 3,800 cash.
4. Incurred600 of advertising costs in the Chicago Tribune, on account.
5. Paid 900 cash for office supplies.
6. Performed services worth11,000: 3,300 cash is received from customers, and the balance of7,700 is billed to customers on account.
7. Withdrew 500 cash for personal use.
8. Paid Chicago Tribune400 of the amount due in transaction (4).
9. Paid employees' salaries 2,900.
10. Received4,700 in cash from customers who have previously been billed in transaction (6).

What is the total amount of cash received by Jackson's Travel Agency during the month of April?

Answer 1

The total amount of cash received by Jackson's Travel Agency during the month of April is $22,000.

Step-by-step explanation:

The total amount of cash received by Jackson's Travel Agency during the month of April can be calculated by adding up all the cash received from various transactions. Here is the breakdown:

Invested $14,000 cash to start the agency.

Performed services worth $11,000: $3,300 cash is received from customers, and the balance of $7,700 is billed to customers on account.

Received $4,700 in cash from customers who have previously been billed.

To find the total amount of cash received, add up all the cash received: $14,000 + $3,300 + $4,700 = $22,000.