Determine the amount to post to the Cash T-account. Event Debit/Credit Purchase equipment by signing a note with the bank for $20,000. Provide services to customers for $26,000 cash. Pay utilities of $2,000 for the current month. Pay back bank note of $20,000. Purchase supplies for $700 cash.
a. Assuming the beginning balance in the Cash T-account is $0, what is the ending balance in the Cash T-account after the five transactions above?
b. Instead of a beginning balance of $0, what if the beginning balance in the Cash T-account was $3,000. Now, what is the ending balance in the Cash T-account after the five transactions above?
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