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On july 1, the cash account balance was $37,450. during july, cash payments totaled $115,860 and the july 31 balance was $29,600. determine the cash receipts during july.

Respuesta :

Kalahira
108,010
   
Starting balance 37,450 Minus payments of 115,860 Leaves balance = $-78,410 (37,450-115860= -78,410) Therefore in order for the balance to go up to 29,600 the receipts must have been 108,010 because 29,600 --78410 = 108,010
barnuts

If we want to know the total deposits which is made then: 

We begin with Initial balance on July 1: $37,450 

Then subtract the cash payments of $115,860 

So subtotal = ($78,410) 

To arrive at the final balance of : $29,600 there had to be deposits of 78,410 to offset the subtotal + another $29,600, so

total deposits = 78,410 + 29,600 = $108,010

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