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2 September, 22:54

In the first month of operations, the total of the debit entries to the Cash account amounted to $1,400 and the total of the credit entries to the Cash account amounted to $800. The Cash account has aA) $800 credit balance. B) $1,400 debit balance. C) $600 debit balance. D) $600 credit balance.

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  1. 2 September, 22:58
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    Answer: Option (c) is correct.

    Explanation:

    Cash account:

    Debit amount of cash account = $1,400

    Credit amount of cash account = $800

    Therefore, overall cash balance is calculated as the difference between the debit amount and the credit amount.

    Overall cash balance = Debit amount - Credit amount

    = $1,400 - $800

    = $600 (Debit Balance)

    Therefore, the cash account has a debit balance of $600.
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