Consider the Following Information Taken from the Cash Account How Much Was the Beginning Balance of the Cash Account

Consider the following information taken from the cash account. Assume cash payments were 80% of collections. $$\begin{array} { | c | l | } \hline \text { Cash } & \\\hline ? ? & \text { Beginning balance } \\\hline \$ 115,375 & \text { Collections } \\\hline ? ? & \text { Disbursements } \\\hline \$ 80,275 & \text { Ending balance } \\\hline\end{array}$$ How much was the beginning balance of the cash account?

A) $57,200
B) $92,300
C) $103,350
D) $35,100

Correct Answer:

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