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  2. Topic
    Business
  3. Study Set
    Corporate Financial Accounting Study Set 2
  4. Exam
    Exam 7: Sarbanes-Oxley, internal Control, and Cash
  5. Question
    Consider the Cash Account Below
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Consider the Cash Account Below

Question 5

Question 5

Essay

Consider the cash account below.
Additional Information: cash disbursements were 80% of collections.
Consider the cash account below. Additional Information: cash disbursements were 80% of collections.     How much was the Beginning Balance of the Cash Account?
How much was the Beginning Balance of the Cash Account?

Correct Answer:

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Calculation:
$115,375 X 80% = Disburseme...

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