In the first month of operations, the total of the debit entries to the Cash account amounted to $2,000 and the total of the credit entries to the Cash account amounted to $1,500. The Cash account has a
A)$1,500 credit balance.
B)$500 debit balance.
C)$2,000 debit balance.
D)$500 credit balance.

Question

Quizplus · Accepted Answer

The Cash account has a debit balance of $500 because the total debits ($2,000) exceed the total credits ($1,500) by $500.

In the First Month of Operations, the Total of the Debit