In the first month of operations, the total of the debit entries to the cash account amounted to $700 and the total of the credit entries to the cash account amounted to $500. The cash account has a
A) $500 credit balance.
B) $700 debit balance.
C) $200 debit balance.
D) $200 credit balance.

Question

Quizplus · Accepted Answer

The total debit entries of $700 exceed the total credit entries of $500 by $200, which means the cash account has a $200 debit balance.

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