Question

The Diamond Store began business on June 1. During the month of​ June, Diamond had cash payments of $ 10,000. At the end of​ June, it had a $ 18,000 cash balance. Based on this​ information, the cash receipts for the month of June​ were________.

Answer 1

$28,000

Step-by-step explanation:

Cash payments is a negative entry (credit) to the cash balance account, while cash receipts is a positive entry (debit), if the final cash balance is $18,000, cash receipts for the month of June are:

`R - \$10,000 = \$18,000\\R= \$28,000`

The cash receipts for the month of June​ were $28,000.