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24 September, 21:43

On may 1, vaya corp. had a beginning cash balance of $320. vaya's sales for april were $330 and may sales were $450. during may, the firm had cash expenses of $175 and made payments on accounts payable of $260. vaya's accounts receivable period is 30 days. what is the firm's beginning cash balance on june 1?

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  1. 24 September, 21:48
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    To determine the June 1 balance, cash expenses and accounts payable for May are counted as is the sales figures for April. May's figures do not take effect. In this case, then, the equation would be (320 - 175 - 260 + 330). This will give a beginning balance on June 1 of $215.
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