Entity A had a cash balance of ₱310,000 at the beginning of the period. During the period Entity A had the following tra
Posted: Mon May 30, 2022 7:54 am
Entity A had a cash balance of ₱310,000 at the beginning of the
period. During the period Entity A had the following transactions:
(a) Rendered services worth ₱420,000, on account; (b) Obtained a
₱500,000 loan; (c) Collected ₱270,000 accounts receivable; (d) Paid
total expenses of ₱680,000; and (e) Paid half of the loan. How much
is the ending balance of cash? show your solution, indicate
right after your answer if it has net debit balance or net credit
balance.
period. During the period Entity A had the following transactions:
(a) Rendered services worth ₱420,000, on account; (b) Obtained a
₱500,000 loan; (c) Collected ₱270,000 accounts receivable; (d) Paid
total expenses of ₱680,000; and (e) Paid half of the loan. How much
is the ending balance of cash? show your solution, indicate
right after your answer if it has net debit balance or net credit
balance.