The following transactions occurred during July: 1.Received $1,600 cash for services performed during July.
2.Received $10,000 cash from the issuance of common stock to owners.
3.Received $800 from a customer as payment for services performed during June.
4.Billed $7,000 to customers for services performed on account in July.
5.Borrowed $5,000 from the bank and signed a promissory note.
6.Received $2,000 from a customer for services to be performed during August.
As a result of these transactions,what is the amount of the increase to the Cash account?
A) $19,400.
B) $26,400.
C) $4,400.
D) $14,400.
Correct Answer:
Verified
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