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Consider the following transactions. Receive cash from customers, $16,600. Pay cash for employee salaries, $10,600. Pay cash for rent, $4,600. Receive cash from sale of equipment, $9,600. Pay cash for utilities, $2,600. Receive cash from a bank loan, $5,600. Pay cash for advertising, $8,600. Purchase supplies on account, $4,600. Required: Post transactions to the Cash T-account and calculate the ending balance.

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TomShelby

Answer:

Balance of the Cash account: 10,400        

Missing information

beginning Cash balance: 5,000

Explanation:

       CASH

      DEBIT               CREDIT    

          5,000

         16,600

                            10,600

                              4,600

          9,600

                              2,600

          5,600

                              8,600                

         36,800        26,400

Balance 10,400        

Cash is an asset account thus, increase from debit and decrease from credit.

When we receive cash is being debited

When we pay is credited.

The last trnasaction is a purchase on accont Hence, no cash involve. We don't posted in the Cash T-account

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